Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) had its price target raised by equities researchers at Citigroup Inc. from $154.00 to $155.00.With a rating of Buy on the stock, Alexion Pharmaceuticals Inc. has a 52-week high of $193.45. A number of other analysts have issued reports on the stock recently, and the company has earned a consensus one-year price target of $167.06, above the opening price of $132.47.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) shares last traded at $131.41, which is a spike of $0.23 from the previous closing price. Opening at $132.47, they varied from $131.31 and $132.60 throughout the day.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) currently has a market cap of 29.47B.
The stock’s average daily volume is 1,817,640 shares out of a total float 223,187,000 and some 154,694 shares crossed the trading desk yesterday, 83 percent lower than normal. Momentum traders often use upticks in trading volume to identify large volume aggregation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks expresses a positive cue to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By following the activity of these professional investors and how they affect moving averages, traders can make the best trades.
With that in mind, Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) now has a 50-day MA of $131.30 and 200-day MA of $135.95. It has traded in a 52-week range between $110.56 – 193.45 and today’s last price is 0.32% lower than the 52 week high of $193.45.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings by at least 25% over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.