5 Best Large-Cap Biotech Stocks To Buy Now

4. Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN)

No of HFs: 58

Total Value of HF Holdings: $3.7 Billion

Alexion Pharmaceuticals, Inc. is a global biopharmaceuticals company that focuses on developing life-changing therapies for people living with rare disorders. To date, the company has five innovative medicines approved for the treatment of seven rare diseases, ANDEXXA, KANUMA, SOLIRIS, STRENSIQ, and ULTOMIRIS. During the third quarter of 2020, the company reported total revenue of $1,588.7 million, a 26 percent increase compared to the same period in 2019.

In an article, we mentioned Miller Value Partners’ Hedge Fund Investor Letter where he highlighted ALXN,

“Alexion Pharmaceuticals (ALXN) fell 25.2% over the quarter after reporting a top-line beat with revenue of $1,203M versus the Street at $1,174M and EPS of $2.64 ahead of consensus of $2.34. The company raised full year guidance with revenue of $4,750-4,800M from $4,675-4,750m and EPS of $9.65-9.85 from $9.25. Later in the quarter, the US Patent and Trademark Office said it would review three patents on its top-selling Soliris drug following a challenge filed by Amgen. The European Patent Office decided to refrain from granting Alexion two Soliris patents which would have provided patent protection through 2027. The company also announced the acquisition of an exclusive license to develop and commercialize BBIO’s/EIDX’s TTR stabilizer AG10 in Japan for $25M upfront, $25M equity investment along with milestones and royalties. Alexion announced the planned succession of CFO Paul Clancy with Dr. Aradhana Sarin M.D., who is currently Chief Strategy Officer, beginning in the fourth quarter.”