This is just to note that this morning I bought my first shares of Alexion Pharmaceuticals (ALXN) for $175.12 per share.
I have had an eye on Alexion for a long time and wrote several articles on Alexion published by Seeking Alpha. I have been particularly interested since last week's earnings report (See my Alexion Q4 2014 analyst call notes).
Today seems to be a biotechnology sell-off day, as those who trade frequently sell their biotech winnings to buy oil companies and futures. Fine. Of course Alexion could go down further, but my eye is on the prize in 2016. By then Asfotase Alpha sales should be ramping and we may see a clearer trajectory for the further reaches of the pipeline.
As earnings have ramped and the price come off highs, Alexion's P/E ratio has come off earlier levels, but it is still something to keep in mind. A stall in earnings growth could mean big losses for investors. Such a stall could come from European health programs putting pressures on Alexion over the high prices of its therapies.
The main reason for this short entry is that now that I own some ALXN, I may not be able to maintain the level of objectivity I like to have when I analyze a stock.