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Fly News Breaks for March 22, 2019
BIIB
Mar 22, 2019 | 06:53 EDT
UBS analyst Carter Gould downgraded Biogen to Neutral from Buy and lowered his price target for the shares to $242 from $395. The failure of aducanumab leaves Biogen with a lack of visibility around a path back to sales growth, Gould tells investors in a research note. As a result, the threats to Tecfidera intellectual property beyond 2020 and competition to Spinraza "should dominate the narrative over the near-term," says the analyst.
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