Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) is having an incredibly strong start to the trading session, and for good reason. The company released its earnings for the third quarter, blowing away expectations. Of course, the news excited investors, sending the stock running for the top. Today, we’ll talk about:
- The financial results;
- what we’re seeing from ALXN as a result; and
- what we’ll be watching for ahead.
ALXN Reports Earnings
As mentioned above, Alexion Pharmaceuticals is having a strong start to the trading session this morning after reporting its financial results for the third quarter. Here’s what we saw from the report:
- Earnings – In terms of earnings, the company did incredibly well. During the third quarter, the company reported earnings in the amount of $330.9 million. That works out to $1.47 per share. When adjusted for one-time gains and costs, earnings came to a total of $2.02 per share, blowing away analyst expectations of $1.75 per share.
- Revenue – When it comes to revenue, the comapny said it generated $1.03 billion in the third quarter. That figure met forecasts.
- Guidance – Finally, ALXN said that it is expecting for full year earnings to come in between $7.45 and $7.60 per share on revenue in the range between $4.02 billion and $4.05 billion.
In a statement, Ludwig Hantson, Ph.D., CEO at ALXN, had the following to offer:
We continued to execute on our key objectives this quarter, further strengthening our core business and again delivering strong top and bottom-line growth… Following the groundbreaking Phase 3 results of eculizumab in NMOSD, we are moving quickly to prepare global regulatory submissions, which could make it the first approved therapy for patients with this devastating disease. Our teams continue to demonstrate launch excellence with sustained growth of Soliris® in gMG. In addition, we made significant progress diversifying our portfolio with the anticipated acquisition of Syntimmune and our collaboration with Dicerna. We continue to look for additional opportunities while advancing internal programs to position us for further long-term growth.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Alexion, the news proved to be overwhelmingly positive. After all, the company blew away expectations with regard to earnings, showing that it is growing at a faster rate than analysts and investors were expecting to see. So, it’s not surprising to see that the stock is making a run for the top in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:22), ALXN is trading at $127.00 per share after a gain of $4.00 per share or 3.25% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ALXN. In particular, we’re interested in following the story surrounding the company’s continued growth and to see whether or not the company can reach the high bar that it has set with regard to guidance. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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