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Alexion (ALXN) Surpasses Q4 Earnings and Revenue Estimates
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Alexion Pharmaceuticals, Inc.’s fourth-quarter adjusted earnings of $2.96 per share comfortably beat the Zacks Consensus Estimate of $2.50 and grew from $2.71 in the year-ago period.
Moreover, revenues rose 15% year over year to $1.59 billion for the reported quarter and surpassed the Zacks Consensus Estimate of $1.51 billion. The positive impact of foreign currency on total revenues was less than 1%, inclusive of hedging activities. Revenues were driven by higher sales of Soliris, Ultomiris and Strensiq.
Shares of Alexion have gained 50.3% so far this year compared with the industry’s 15% rally.
Revenues in Detail
Soliris (approved for the treatment of paroxysmal nocturnal hemoglobinuria [PNH], atypical hemolytic uremic syndrome [aHUS] and generalized myasthenia gravis) sales were up 1% year over year to $1023.5 million for the reported quarter.
Long-acting C5 complement inhibitor, Ultomiris — approved for the treatment of adult patients with PNH and aHUS — generated sales of $313.5 million compared with $170.2 million in the year-ago quarter, representing an 84% increase.
Strensiq revenues were $185.9 million (up 11% year over year). Kanuma contributed $29.2 million (down 14% year over year) to quarterly revenues.
Cost Summary
Adjusted research and development expenses increased to $269.8 million from $226.7 million in the year-ago quarter.
Adjusted selling, general and administrative expenses were $384.6 million, up from $340 million in the year-ago quarter.
Full-Year Results
The company reported full-year 2020 adjusted earnings of $12.51 per share, up from $10.53 in 2019. The reported figure also surpassed the Zacks Consensus Estimate of $12.06 per share.
Revenues were $6.07 billion for 2020 compared with $4.99 billion in 2019. Revenues also outpaced the Zacks Consensus Estimate of $5.96 billion.
Pipeline Update
Alexion’s phase IIII study on Ultomirisin children and adolescents with Neuromyelitis Optica Spectrum Disorder is underway.
In November 2020, the Ultomiris 100 mg/mL higher concentration formulation for PNH and aHUS was approved in the European Union. An application for approval is under review in Japan. This higher-concentration formulation is designed to reduce infusion time by more than 60% to about 45 minutes.
In January 2021, Alexion paused further enrollment in a phase III study of Ultomiris — pending further analysis of the data — in adults hospitalized with severe COVID-19 requiring mechanical ventilation, due to lack of efficacy. This decision was made based on the recommendation of an independent data monitoring committee, following its review of data from a pre-specified interim analysis.
In December 2021, Alexion entered into a definitive agreement with U.K.-based pharmaceutical company, AstraZeneca (AZN - Free Report) , whereby the latter will acquire the former.
Our Take
Alexion’s fourth-quarter results were strong despite the impacts of the COVID-19 pandemic. The company continues to take proactive measures to mitigate the risk of potential interruptions in supply and/or access to patients' customary site-of-care locations.
Acorda’s loss per share estimates have narrowed from $9.66 to $8.48 for 2020 and from $9.60 to $7.33 for 2021 over the past 60 days.
Anavex’s loss per share estimates have narrowed from 48 cents to 46 cents for 2021 over the past 60 days. Shares of the company have increased 103% in the past year.
Alexion Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Alexion (ALXN) Surpasses Q4 Earnings and Revenue Estimates
Alexion Pharmaceuticals, Inc.’s fourth-quarter adjusted earnings of $2.96 per share comfortably beat the Zacks Consensus Estimate of $2.50 and grew from $2.71 in the year-ago period.
Moreover, revenues rose 15% year over year to $1.59 billion for the reported quarter and surpassed the Zacks Consensus Estimate of $1.51 billion. The positive impact of foreign currency on total revenues was less than 1%, inclusive of hedging activities. Revenues were driven by higher sales of Soliris, Ultomiris and Strensiq.
Shares of Alexion have gained 50.3% so far this year compared with the industry’s 15% rally.
Revenues in Detail
Soliris (approved for the treatment of paroxysmal nocturnal hemoglobinuria [PNH], atypical hemolytic uremic syndrome [aHUS] and generalized myasthenia gravis) sales were up 1% year over year to $1023.5 million for the reported quarter.
Long-acting C5 complement inhibitor, Ultomiris — approved for the treatment of adult patients with PNH and aHUS — generated sales of $313.5 million compared with $170.2 million in the year-ago quarter, representing an 84% increase.
Strensiq revenues were $185.9 million (up 11% year over year). Kanuma contributed $29.2 million (down 14% year over year) to quarterly revenues.
Cost Summary
Adjusted research and development expenses increased to $269.8 million from $226.7 million in the year-ago quarter.
Adjusted selling, general and administrative expenses were $384.6 million, up from $340 million in the year-ago quarter.
Full-Year Results
The company reported full-year 2020 adjusted earnings of $12.51 per share, up from $10.53 in 2019. The reported figure also surpassed the Zacks Consensus Estimate of $12.06 per share.
Revenues were $6.07 billion for 2020 compared with $4.99 billion in 2019. Revenues also outpaced the Zacks Consensus Estimate of $5.96 billion.
Pipeline Update
Alexion’s phase IIII study on Ultomirisin children and adolescents with Neuromyelitis Optica Spectrum Disorder is underway.
In November 2020, the Ultomiris 100 mg/mL higher concentration formulation for PNH and aHUS was approved in the European Union. An application for approval is under review in Japan. This higher-concentration formulation is designed to reduce infusion time by more than 60% to about 45 minutes.
In January 2021, Alexion paused further enrollment in a phase III study of Ultomiris — pending further analysis of the data — in adults hospitalized with severe COVID-19 requiring mechanical ventilation, due to lack of efficacy. This decision was made based on the recommendation of an independent data monitoring committee, following its review of data from a pre-specified interim analysis.
In December 2021, Alexion entered into a definitive agreement with U.K.-based pharmaceutical company, AstraZeneca (AZN - Free Report) , whereby the latter will acquire the former.
Our Take
Alexion’s fourth-quarter results were strong despite the impacts of the COVID-19 pandemic. The company continues to take proactive measures to mitigate the risk of potential interruptions in supply and/or access to patients' customary site-of-care locations.
Zacks Rank & Other Key Picks
Alexion currently has a Zacks Rank #2 (Buy).
Other similar-ranked stocks in the healthcare sector include Acorda Therapeutics Inc. and Anavex Life Sciences Corp. (AVXL - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Acorda’s loss per share estimates have narrowed from $9.66 to $8.48 for 2020 and from $9.60 to $7.33 for 2021 over the past 60 days.
Anavex’s loss per share estimates have narrowed from 48 cents to 46 cents for 2021 over the past 60 days. Shares of the company have increased 103% in the past year.
Alexion Pharmaceuticals, Inc. Price, Consensus and EPS Surprise
Alexion Pharmaceuticals, Inc. price-consensus-eps-surprise-chart | Alexion Pharmaceuticals, Inc. Quote
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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