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BIIB

Biogen

$378.45

5.65 (1.52%)

10:35
07/25/18
07/25
10:35
07/25/18
10:35

Biogen announces detailed results from Phase 2 study of elenbecestat

Eisai and Biogen announced detailed results from a Phase 2 clinical study of the investigational oral BACE inhibitor elenbecestat at the Alzheimer's Association International Conference 2018 being held in Chicago. The multicenter, randomized, double-blind, placebo-controlled parallel-group 18-month Phase 2 clinical study was conducted in the United States in patients with mild cognitive impairment due to Alzheimer's disease, or mild to moderate dementia due to Alzheimer's disease with confirmed amyloid pathology by positron emission tomography. Seventy patients were randomized to four treatment arms receiving elenbecestat or placebo daily. During the study period, more than half the patients in the elenbecestat 5 mg and 15 mg arms were switched to the 50 mg arm. These patients received elenbecestat 50 mg for three months or longer. Analysis was carried out on the combination of patients in the initial 50 mg treatment arm plus the patients switched to the 50 mg arm, referred to collectively as the "50 mg total group arm". In addition to the primary safety objective, the study assessed amyloid pathology in the brain at 18 months as measured by amyloid PET as well as efficacy in terms of clinical symptoms, which were exploratory objectives in this study. Regarding the accumulation of amyloid in the brain at 18 months as measured by PET via quantitative evaluation of Standard Uptake Value Ratio using the florbetaben PET tracer, a statistically significant reduction of brain amyloid load as compared to placebo was observed in the 50 mg total group arm with a reduction in SUVr of 0.104. Although a small sample size, using the florbetapir PET tracer demonstrated a statistically significant decrease in brain amyloid load compared to placebo for the 50 mg total group arm at 18 months. Clinical efficacy was evaluated using the Clinical Dementia Rating Sum of Boxes rating scale. After 18 months of treatment, clinical assessment using CDR-SB demonstrated a mean treatment difference of -0.5 based off of an increase of 1.1 for the elenbecestat 50 mg total group arm versus an increase of 1.6 for the placebo group. This represented a 31% slowing in rate of decline for the elenbecestat arm which is potentially considered to be clinically important. "While the study was not powered to show statistical significance compared to placebo on clinical symptoms, the results suggest that elenbecestat could slow decline in cognitive function of patients with MCI due to Alzheimer's disease, or mild to moderate dementia due to Alzheimer's disease," the companies stated.

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BIIB Biogen
$378.45

5.65 (1.52%)

07/25/18
RHCO
07/25/18
NO CHANGE
Target $392
RHCO
Buy
Biogen price target raised to $392 from $321 at SunTrust
SunTrust analyst Yatin Suneja raised his price target on Biogen to $392 and kept his Buy rating after its Q2 results, saying all key business segments contributed to a top-line beat, while lower cost of goods sold and R&D expenses drove the better than expected earnings. The analyst notes that investors are now focusing on the upcoming release regarding BAN2401 Alzheimer's data, estimating a 20% cognition improvement. Suneja also increased his FY19 expected EPS multiple to 14-times from 12-times as part of his price target revision.
07/25/18
ADAM
07/25/18
NO CHANGE
Target $396
ADAM
Buy
Biogen risk/reward positive into Alzheimer's conference, says Canaccord
Canaccord analyst Sumant Kulkarni noted Biogen reported better than expected Q2 results, which were driven by robust Spinraza sales, higher gross margins, and lower R&D expenses. The analyst said the focus is now on the company's BAN2401 presentation at the Alzheimer conference. He said he likes the risk/reward heading into this event. Kulkarni reiterated his Buy rating and $396 price target on Biogen shares.
07/24/18
JPMS
07/24/18
NO CHANGE
Target $445
JPMS
Overweight
JPMorgan expects 'FOMO' trading for Biogen, ups price target to $445
JPMorgan analyst Cory Kasimov said Biogen's "nice beat-and-raise" report was "an encouraging start" to the Q2 earnings season, adding that its MS franchise remains largely stable. Much of the conference call Q&A focused on Alzheimer's ahead of tomorrow's BAN2401 data presentation and he thought the overall tone of the conversation was "constructive," he tells investors. The analyst, who thinks a significant "fear of missing out" trade may take hold as the highly anticipated aducanumab data readout in early 2020 approaches, raised his price target on Biogen to $445 from $400 and keeps an Overweight rating on the shares.
07/24/18
PIPR
07/24/18
NO CHANGE
Target $400
PIPR
Overweight
Piper raises Biogen target to $400 after BAN2401 'stole the show' from earnings
Piper Jaffray analyst Christopher Raymond raised his price target on Biogen to $400 from $365 after "solid" Q2 results that he said were overshadowed by what "investors are interpreting as highly encouraging commentary" regarding the BAN2401 data that will be presented at tomorrow's AAIC meeting. Given what he sees as the "massive stock re-rating potential" associated with a viable Alzheimer's treatment, he thinks investors should continue to own the stock into tomorrow's BAN2401 data and ahead of full Phase 3 data for aducanumab in 2020. Raymond keeps an Overweight rating on Biogen shares.

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BHVN

Biohaven Pharmaceutical

$44.16

-0.61 (-1.36%)

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CE

Celanese

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F

Ford

$10.20

-0.06 (-0.58%)

17:48
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Periodicals
Ford plans to lay off 185 employees at Ontario plant, Reuters reports »

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RTN

Raytheon

$178.55

2.45 (1.39%)

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UTX

United Technologies

$132.37

1.08 (0.82%)

17:44
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LMT

Lockheed Martin

$356.90

0.675 (0.19%)

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ARES

Ares Management

$28.13

-0.305 (-1.07%)

17:33
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Syndicate
Breaking Syndicate news story on Ares Management »

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HAFC

Hanmi Financial

$21.68

-0.105 (-0.48%)

17:33
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PAYS

Paysign

$17.49

-0.48 (-2.67%)

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MEOH

Methanex

$43.19

0.83 (1.96%)

17:28
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Methanex reaches final investment decision on methanol plant in Geismar, LA »

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Conference/Events
Credit Suisse biotech analysts to hold an analyst/industry conference call »

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SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
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16:41
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Conference/Events
Sonim management to meet with Oppenheimer »

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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

16:30
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Kingstone names Barry Goldstein CEO »

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16:30
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Options
Preliminary option volume of 22.6M today »

Preliminary option volume…

BA

Boeing

$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

16:24
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On The Fly
Fly Intel: Wall Street's top stories for Friday »

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BA

Boeing

$377.34

16.17 (4.48%)

MSFT

Microsoft

$136.62

0.33 (0.24%)

AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

AAPL

Apple

$202.62

-3.02 (-1.47%)

WMT

Walmart

$113.91

-0.77 (-0.67%)

DIS

Disney

$139.86

-1.76 (-1.24%)

GCI

Gannett

$9.43

1.53 (19.37%)

CRWD

Crowdstrike

$83.50

10.75 (14.78%)

SKX

Skechers

$39.00

4.25 (12.23%)

PACB

Pacific Biosciences

$5.34

-0.53 (-9.03%)

ILMN

Illumina

$293.10

-5.44 (-1.82%)

CHWY

Chewy

$30.70

-2.09 (-6.37%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Closing CBOE SPX and VIX Index summary for July 19th »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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Technical Analysis
NASDAQ market internals summary »

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BCBP

BCB Bancorp

$12.71

-0.09 (-0.70%)

16:17
07/19/19
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Earnings
BCB Bancorp reports Q2 EPS 30c, consensus 30c »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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Technical Analysis
NYSE market internals summary »

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CNXM

CNX Midstream Partners

$14.30

-0.205 (-1.41%)

16:16
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CNX Midstream Partners raises quarterly distribution 3.6% to 38.65c per unit »

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TELL

Tellurian

$7.25

0.22 (3.13%)

16:16
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Breaking Syndicate news story on Tellurian »

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16:15
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General news
Breaking General news story  »

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ROKU

Roku

$106.83

-2.18 (-2.00%)

16:13
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Conference/Events
Roku management to meet with Oppenheimer »

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