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Upgrade Alert for Alexion Pharmaceuticals (ALXN)

By Amy Schwartz

Alexion Pharmaceuticals (NASDAQ:ALXN) was upgraded from Neutral to Outperform at Credit Suisse today. The stock closed yesterday at $125.30 on volume of 1.7 million shares, above average daily volume of 1.6 million.

In the past 52 weeks, Alexion Pharmaceuticals share prices have been bracketed by a low of $110.56 and a high of $208.88 and closed yesterday at $125.30, 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.8%.

Alexion Pharmaceuticals has overhead space with shares priced $125.30, or 42.3% below the average consensus analyst price target of $217.23. Alexion Pharmaceuticals shares should first meet resistance at the 50-day moving average (MA) of $144.17 and find additional resistance at the 200-day MA of $164.17.

Alexion Pharmaceuticals, Inc., a biopharmaceutical company, researches and develops proprietary immunoregulatory compounds for the treatment of autoimmune and cardiovascular diseases. The Company develops C5 complement inhibitors and Apogens which are two classes of potential therapeutic compounds designed to selectively target specific disease-causing segments of the immune system.

SmarTrend recommended that its subscribers protect gains by selling shares of Alexion Pharmaceuticals on June 7th, 2016 by issuing a Downtrend alert when the shares were trading at $138.45. Since that call, shares of Alexion Pharmaceuticals have fallen 10.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades alexion pharmaceuticals

Ticker(s): ALXN