Alexion Pharmaceuticals Shares Rise

Alexion Pharmaceuticals shares rose 5% on Thursday after the company reported Q2 adjusted profit of $1.56 per share, up from $1.13 per share in the prior year period and came in higher than the $1.26 per share Street estimate provided by Capital IQ. Revenues were $912 million, up from $753 million reported for the same period last year and higher than the $846.2 million Street estimate.

For 2017, the company now expects earnings to range from $5.40 to $5.55 per share on revenues of $3.45 billion to $3.53 billion, as compared to prior guidance of $5.10 to $5.30 EPS on revenues of $3.4 billion to $3.5 billion. The Street consensus calls for EPS of $5.33 on revenues of $3.47 billion.

By Kristen Tardella