ALXN - Alexion current acquisition price from AstraZeneca is too cheap analyst says

Alexion's (ALXN) was upgraded to outperform as the current deal to sell itself to AstraZeneca (AZN) for about $39B appears "too cheap," according to Oppenheimer."With the recent near-term business strength, a strong case for >$10B in revenues by FY25 and a surprisingly full pipeline, we argue the current acquisition price is too cheap," Oppenheimer analyst Hartaj Singh wrote in a note earlier.Singh entitled his upgrade report "Biotech Jewel on the Cheap." Singh downgraded Alexion is late March expecting slowing sales and receding margins in 2020/21 before a "bounce" to the business from Ultomiris, NMOSD, and other launches and now said he was "obviously too cautious."He set his price target for Alexion at $205 in note today.Alexion and AstraZeneca's shareholder votes are set for Tuesday May 11. The FTC cleared the Alexion/AstraZeneca deal last month.Yesterday, Dealreporter said AstraZeneca doesn't expect Alexion deal to see antitrust concerns in remaining reviews.

For further details see:

Alexion current acquisition price from AstraZeneca is too cheap, analyst says