Atlantic Equities analyst Steve Chesney raised the firm’s price target on Biogen to $295 from $220 and keeps a Neutral rating on the shares. The analyst is "encouraged" by the lecanemab full data presentation "given the consistency of the efficacy and lack of statistical wrinkles in the reported results." That said, the jury is still out on the overall clinical meaningfulness of the results, says Chesney, who expects lingering concerns on the safety profile given recent media reports.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on BIIB:
- Could Eisai and Biogen’s (NASDAQ:BIIB) Alzheimer’s Drug Get the FDA’s Blessing?
- Mizuho healthcare analysts to hold an analyst/industry conference call
- MRNA, BIIB, or IQV: Which Biotech Stock Earns the Street’s “Strong Buy” Rating?
- Early notable gainers among liquid option names on November 30th
- Mizuho says Biogen not mentioned in 90 minute lecanemab presentation
