Lookback: Miller Value Partners 2019 Alexion Pharmaceuticals (ALXN) Thesis

If you are looking for the best ideas for your portfolio you may want to consider some of Miller Value Partners top stock picks. Miller Value Partners, an investment management firm, is bullish on Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) stock. In its Opportunity Equity Q3 2019 investor letter – you can download a copy here – the firm discussed its investment thesis on Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) stock. Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) is a pharmaceuticals company.

On October 21, 2019, Miller Value Partners had released its Opportunity Equity Q3 2019 investor letter. The investment firm said that Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) was one of the biggest detractors to its performance in Q3 2019. Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) stock has posted a return of 8.0% in the trailing one year period, underperforming the S&P 500 Index which returned 15.4% in the same period. This suggests that the investment firm was wrong in its decision.

Miller Opportunity Equity fund posted a return of -1.81% in the third quarter of 2019, underperforming the S&P 500 Index which returned 1.70% in the same quarter. Let’s take a look at comments made by Miller Value Partners about Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) stock in the Q3 2019 investor letter.

“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.”

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In Q2 2020, the number of bullish hedge fund positions on Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) stock increased by about 2% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in Alexion’s growth potential. Our calculations showed that Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

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Disclosure: None. This article is originally published at Insider Monkey.