Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) shares saw a handy gain early on Friday after the New York Times reported that there might be some increasing activist movement in the stock. Elliott Management is reportedly pushing for big changes within the company, or else.

Essentially, Elliott Management thinks that Alexion hasn’t done enough and the firm wants to hear a plan to increase the share price by the end of the month, even considering an outright sale. Apart from this, Elliot is also pressing for major changes on Alexion’s board of directors.

Should Alexion fail to live up to Elliott’s expectations, the firm plans to initiate a proxy fight to take over seats on the board of directors.

Looking at the chart, it’s fairly obvious why Elliott is making the case. Over the past quarter, Alexion’s stock is down 24%. However, the stock is only down about 13% year to date.

According to the New York Times, Elliott declined to comment on the situation. Alexion issued a statement saying that it “believes in active and constructive dialogue with all of our shareholders, and we value their perspectives.”

It remains to be seen if Alexion can turn itself around, but for now the gains in the share price seem to be welcome.

Alexion has a market cap of roughly $24 million, which compares to Elliott’s $34 billion in assets under management.

After shares of Alexion closed Thursday at $106.78, they opened Friday near $113. The consensus analyst price target is $163.43, and the 52-week range is $96.18 to $149.34.

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