Stock Alert: Alexion Pharma Up 7%

(RTTNews) - Shares of Alexion Pharmaceuticals Inc (ALXN) are rising more than 7 percent or $7.65 in Thursday's morning trade at $113.79 despite no stock-specific news. The stock has traded in a range of $72.67 to $134.84 in the past 52 weeks.

U.S. stocks are modestly higher on Thursday after a report released by the Labor Department showed a continued decrease in first-time claims for U.S. unemployment benefits in the week ended May 23.

Boston, Massachusetts-based Alexion Pharma develops and commercializes various therapeutic products.

In early May, Alexion Pharma said it agreed to acquire Portola Pharmaceuticals, Inc. (PTLA), a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders. The transaction is expected to close in the third quarter of 2020.