RBC Capital raised the firm’s price target on Biogen (BIIB) to $341 from $332 and keeps an Outperform rating on the shares. Following the full approval of Leqembi and ahead of the upcoming data from Eli Lilly’s (LLY) competitor donamenab, a survey of rpescribing neurologists to gauge expected use of the beta-amyloid antibodies saw intent to prescribe as “much higher than expected”, including across higher-risk patients, the analyst tells investors in a research note. RBC adds that physicians expect to use leca and dona generally equally, which “may surprise” investors given some perceptions Eli Lilly’s finite dosing that could “make it more dominant”.
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