RBC Capital analyst Michael Yee says that Eli Lilly's (LLY) Alzheimer's drug, Solanezumab, performed better than expected in a clinical trial. After investors thought that the drug was "a total disappointment" following Lilly's announcement that it had missed its primary endpoint, additional data showed that the treatment improved "several clinical cognitive and functional endpoints " by 7%-15% versus placebo, while the primary endpoint improvement was statistically significant during weeks 28-64, although not at the end of the 80 week trial, Yee reported. Based on the data, the analyst thinks that "a better...more potent drug" like Biogen's (BIIB) Alzheimer's treatment, aducanumab "is more likely to work." He keeps an Outperform rating on Biogen.

Wedbush analyst Laura Chico raised the firm's price target on Biogen to $215 from $213 and keeps a Neutral rating on the shares. It remains early days for newly launching products like Skyclarys, Leqembi and Zurzuvae, the firm notes. That being said, it is encouraging to start to see revenue growth for Leqembi and continued growth for Skyclarys. Wedbush continues to see a gap between the newly launching products and earlier-stage development programs that will need to be addressed. However, larger-scale BD deals are likely easier to complete in 2025.

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