Piper Jaffray believes a takeout of Alexion (ALXN) would make strategic sense for Roche (RHHBY), but adds the timing is not right for Alexion shareholders since the company is entering a period of significant clinical advancement over the next 12 months. Piper estimates Alexion could be worth $148-$208 per share in a takeout scenario and expects multiple large pharma bidders to be interested should the sale process go public. The firm upped its price target for Alexion shares to $138 from $124 and keeps an Overweight rating on the stock.
- Investment & Company Information
- Piper Jaffray