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BIIB

Biogen

$316.95

2.16 (0.69%)

08:02
02/12/19
02/12
08:02
02/12/19
08:02

Biogen price target lowered to $318 from $337 at RBC Capital

RBC Capital analyst Brian Abrahams lowered his price target on Biogen to $318 and kept his Sector Perform rating. The analyst says his "deeper dive" on the stock and its setup scenarios for the rest of the year "could make shares difficult to own" because of the complex Intellectual Property environment and the "competitive clinical data dynamics over the next 12-18 months". Abrahams further notes that the potential success of aducanumab and its "considerable upside" have caused investors to overlook the "meaningful risks" for the rest of the business, adding that the fair value on Biogen stock is likely around its current trading levels.

  • 28

    May

BIIB Biogen
$316.95

2.16 (0.69%)

01/30/19
WBLR
01/30/19
NO CHANGE
WBLR
Outperform
Crenezumab and aducanumab have fundamental differences, says William Blair
William Blair analyst Matt Phipps says there are fundamental differences between Roche's (RHHBY) crenezumab and Biogen's (BIIB) aducanumab that make any read-through "very limited, if at all." Roche's decision to discontinue two Phase III studies evaluating crenezumab, an investigational antibody designed to target oligomers of beta-amyloid, in patients with Alzheimer's disease based on the results of a pre-planned futility analysis by the Independent Data Monitoring Committee does not change the analyst's outlook for aducanumab. While Roche's news will "undoubtedly be viewed negatively" for aducanumab, Biogen's investigational antibody designed to target amyloid plaque, there are "very apparent differences between the antibodies," Phipps contends. He points out that crenezumab has a more similar binding profile to solanezumab, and also is unique in having an IgG4 backbone, which reduces immune effector cell activation in an attempt to reduce the side effect known as amyloid related imaging abnormalities. The analyst keeps an Outperform rating on Biogen.
02/06/19
PIPR
02/06/19
NO CHANGE
Target $402
PIPR
Overweight
Successful challenge of Biogen's '514 patent unlikely, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond kept his Overweight rating and $402 price target on Biogen (BIIB) after the latest filing disclosing that Mylan (MYL) petitioned U.S. PTAB to review its '514 patent covering the treatment of MS with 480 mg of dimethyl fumarate per day as provided for in Biogen's Tecfidera label. The analyst notes that while the worst case scenario could remove about $50 per share from his sum-of-parts analysis on Biogen, he sees it as "unlikely", since the patent has been resilient to two prior challenges which were decided in Biogen's favor.
02/07/19
MZHO
02/07/19
NO CHANGE
Target $427
MZHO
Buy
Mizuho likes Biogen's odds in patent case against Mylan
Shares of Biogen (BIIB) are trading down about 3% after Mylan's (MYL) inter partes review on key multiple sclerosis drug Tecfidera got "instituted," Mizuho analyst Salim Syed tells investors in a research note. The timing was as expected, and most biotech IPRs in general get instituted, explains the analyst. He says that while historical biotech IPR data suggests Biogen has a 31% chance of losing, the company's odds are "materially less" for two reasons. One, Tecfidera intellectual property is already "battle-tested," and two, there are 20 claims being disputed in this IPR and Mylan needs to win on all of them while Biogen needs to win on only one claim to be successful, Syed writes. He has a Buy rating on Biogen with a $427 price target.
02/07/19
CANT
02/07/19
NO CHANGE
Target $33
CANT
Neutral
Mylan patent challenge on Tecfidera potential positive for Alkermes, says Cantor
Cantor Fitzgerald analyst Brandon Folkes views the institution of Mylan's (MYL) inter partes review challenge of Tecfidera's '514 patent as a potential positive for Alkermes (ALKS). The analyst has assumed Biogen's (BIIB) Tecfidera '514 patent holds through 2028, and thus had ascribed a "more-modest" value to Alkermes' royalty from BIIB098 sales. If Mylan is successful in its IPR challenge, says the analyst, it could provide $4-$7 per share upside to his current Alkermes price target of $33. Biogen reported Tecfidera revenues of $4.3B for 2018, $3.3B of which was generated in the U.S. Alkermes is entitled to a mid-teen royalty on worldwide sales of BIIB098, Folkes tells investors in a research note titled "Giving ALKS a Hall Pass to Support the Away Team This Time." However, he believes the market has discounted the contribution of the BIIB098 royalty to Alkermes, "given the uncertainty about how the product may be included in a Tecfidera life cycle extension given the '514 patent runs to 2028."

TODAY'S FREE FLY STORIES

UTX

United Technologies

$126.33

-2.07 (-1.61%)

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TVPT

Travelport

$15.70

-0.01 (-0.06%)

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ITT

ITT

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-0.25 (-0.44%)

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ROKU

Roku

$51.47

-2.16 (-4.03%)

06:50
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ITT

ITT

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-0.25 (-0.44%)

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FIT

Fitbit

$6.62

-0.03 (-0.45%)

06:50
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Downgrade
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FSLR

First Solar

$51.91

0.23 (0.45%)

06:49
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First Solar analyst commentary  »

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ITT

ITT

$56.41

-0.25 (-0.44%)

06:49
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06:49
Hot Stocks
ITT raises quarterly dividend 10% to 14.7c per share »

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NVRO

Nevro

$47.27

-1.12 (-2.31%)

06:49
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Downgrade
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ITT

ITT

$56.41

-0.25 (-0.44%)

06:48
02/22/19
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06:48
Earnings
ITT sees FY19 adjusted EPS $3.42-$3.66, consensus $3.57 »

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ITT

ITT

$56.41

-0.25 (-0.44%)

06:47
02/22/19
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06:47
Earnings
ITT reports Q4 adjusted EPS 82c, consensus 74c »

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ITT

ITT

$56.41

-0.25 (-0.44%)

06:46
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Breaking Hot Stocks news story on ITT »

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  • 22

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CWST

Casella Waste

$33.55

-1.47 (-4.20%)

06:45
02/22/19
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Downgrade
Casella Waste rating change  »

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  • 22

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CODX

Co-Diagnostics

$1.17

-0.015 (-1.27%)

06:45
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Co-Diagnostics regains compliance with Nasdaq listing standards »

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  • 28

    Feb

  • 01

    Mar

06:45
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General news
FX Update: The dollar has been trading mixed »

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SALT

Scorpio Bulkers

$4.00

-0.215 (-5.10%)

06:44
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06:44
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Scorpio Bulkers refinances Kamsarmax vessel »

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MNTA

Momenta

$13.91

-0.16 (-1.14%)

06:42
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  • 22

    Feb

TNK

Teekay Tankers

$1.06

(0.00%)

06:42
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Teekay Tankers rating change  »

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CDE

Coeur Mining

$5.59

0.04 (0.72%)

06:41
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MNTA

Momenta

$13.91

-0.16 (-1.14%)

06:41
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Earnings
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  • 22

    Feb

KHC

Kraft Heinz

$48.19

-0.05 (-0.10%)

06:39
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06:39
Downgrade
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RCM

R1 RCM

$9.61

-0.1 (-1.03%)

06:39
02/22/19
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Earnings
R1 RCM sees FY19 revenue $1.15B-$1.25B, consensus $1.19B »

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  • 22

    Feb

MGLN

Magellan Health

$70.81

-1.6 (-2.21%)

06:39
02/22/19
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06:39
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  • 28

    Feb

FB

Facebook

$160.07

-2.54 (-1.56%)

, GOOG

Alphabet

$1,096.93

-16.98 (-1.52%)

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Periodicals
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GOOG

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$1,096.93

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GOOGL

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$1,103.86

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COG

Cabot Oil & Gas

$24.54

-0.41 (-1.64%)

06:38
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  • 22

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