Piper Sandler analyst Christopher Raymond keeps a Neutral rating on Biogen with a $280 price target after the full data presentation of the lecanemab Clarity AD study at the Clinical Trials on Alzheimer’s Disease conference. Indications of deepening clinical effect over time "add to the bull case for this agent," but "some key debate points are not likely to disappear even after approval," Raymond tells investors in a research note. Combining this with his continued commercial logistical concerns, the analyst continues to fear 2023 revenue numbers are likely to disappoint.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on BIIB:
- MRNA, BIIB, or IQV: Which Biotech Stock Earns the Street’s “Strong Buy” Rating?
- Biogen and Eisai’s Alzheimer’s Drug May Pose Serious Risks, Say Researchers
- Eisai and Biogen present full results for Lecanemab phase 3 study in AD
- Prothena data from AD/PD abstract ‘promising,’ says Jefferies
- Cerebral amyloid angiopathy new risk for beta-amyloid space, says Mizuho
