Merrill rates Alexion at buy

Alexion Pharmaceuticals Inc. was given a buy rating by Merrill Lynch analyst David Munno after the company's non-event release of first-quarter financials. Merrill sees the key drivers for Alexion in the next 6 to 12 months are data presentations and publication of the pivotal Soliris data, BLA filing preparations and educational programs to stimulate demand for Soliris and identify patients ahead of launch. Shares of the Cheshire, Conn., biotechnology company were up $0.39, or 1.16%, at $34.01 on volume of 608,901 shares versus the three-month running average of 730,708 shares. (Nasdaq: ALXN)

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