Alexion Pharma +3.9% as Deutsche Bank lifts target price to $205

Alexion Pharmaceuticals (ALXN +3.9%) moves higher after Deutsche Bank raises its price target on the stock to $205 from $125, believing the market for Asfotase Alfa for severe hypophosphatasia is larger than Wall Street expectations.

The firm sees a ~$1.6B opportunity for Asfotase Alfa, and given the patient mix, it thinks its assumptions could be conservative in its assumption that the blended average price per patient over time is ~$200K since it is below Myozyme ($600K) pricing.

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