Piper Sandler analyst Christopher Raymond maintained a Neutral rating and $280 price target on Biogen following the news of the expected accelerated FDA approval of Leqembi for early Alzheimer’s disease. The analyst noted there were no surprises in the label, including safety, and feels the $26.5K per year pricing "makes sense." However, Raymond’s concerns remain, which include near-term doctor uptake, as well as the issues of access and "cumbersome" infusions every two weeks. He is "concerned about its commercial success" and will "remain on the sidelines until such time as the commercial story becomes clearer."
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Published first on TheFly
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