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Fly News Breaks for February 5, 2020
MYL, BIIB
Feb 5, 2020 | 15:11 EDT
Baird analyst Brian Skorney raised his price target for Biogen (BIIB) to $290 from $250, after the PTAB released its decision on the Mylan (MYL) Tecfidera IPR, affirming validity of the '541 patent, which should keep Tecfidera branded in the U.S. until 2028, although outcomes from two court cases remain. Although the analyst acknowledges that this is a clear positive for the stock, he thinks the move is a "big overreaction." Skorney has an Underperform rating on Biogen's shares.
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