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Fly News Breaks for July 21, 2015
CELG, RCPT, BIIB
Jul 21, 2015 | 06:24 EDT
Piper Jaffray analyst Joshua Schimmer expects a "stronger, bolder" move from Biogen (BIIB) given the company's struggling multiple sclerosis franchise and "highly speculative" pipeline. The recently announced acquisition of Receptos (RCPT) by Celgene (CELG) may force Biogen management into action, Schimmer tells investors this morning in a research note. He sees "plenty of options" for Biogen given its size and cash flow. The analyst keeps an Overweight rating on Biogen but points out the stock is his "least-preferred large-cap investment opportunity."
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