Stifel analyst Paul Matteis lowered the firm’s price target on Biogen (BIIB) to $324 from $331 and keeps a Buy rating on the shares, telling investors that based on the firm’s research ahead of Eli Lilly’s (LLY) donanemab TRAILBLAZER-ALZ 2 readout that it is "more confident" that Biogen (BIIB) and Eisai’s (ESALY) lecanemab is "best-in-class among late-stage abeta antibodies." The firm now assumes a slower initial ramp to reflect near-term CMS uncertainty, but believes this will "become a blockbuster class" and notes that its Alzheimer’s disease market model is now split 60/40 for lecanemab/donanemab.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on BIIB:
- Biogen Receives Favorable Decision from Court of Justice of the European Union Relating to TECFIDERA® (dimethyl fumarate) Regulatory Data and Marketing Protection
- Biogen receives favorable court ruling on TECFIDERA
- Needham healthcare analyst to hold an analyst/industry conference call
- Biogen Appoints Chuck Triano as Head of Investor Relations
- Biogen appoints Triano as Head of Investor Relations
