Elliott Management Corp., a stakeholder in Alexion Pharmaceuticals Inc., is pushing the company to take measures aimed at raising its stock price, The New York Times reported Dec. 7, citing unnamed sources.
The U.S. hedge fund is urging Alexion to put out a more aggressive financial performance guidance or consider strategic options, including a sale of the company.
According to the publication's sources, Elliott Management could initiate a proxy fight to take board seats if the biopharmaceutical company fails to take action.
Following the report, Alexion's stock was up 8.37% to $115.72 as of 2:22 p.m. ET on Dec. 8.