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Fly News Breaks for April 25, 2017
BIIB
Apr 25, 2017 | 10:31 EDT
Piper Jaffray analyst Joshua Schimmer raised his price target for Biogen to $332 from $329 following the company's Q1 results. The sales beat was driven primarily by a "robust" Spinraza launch, Schimmer tells investors in a post-earnings research note. The strong launch, which is "just getting started," will offset volatility in the multiple sclerosis business, the analyst contends. He reiterates an Overweight rating on Biogen. The stock in early trading is up 5%, or $12.93, to $289.79.
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