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BIIB

Biogen

$305.10

2.59 (0.86%)

10:04
11/26/19
11/26
10:04
11/26/19
10:04

Judge being replaced a possible positive for Biogen, says RBC Capital

RBC Capital analyst Brian Abrahams noted that an updated posting in the Tecfidera inter-partes review proceeding reveals that Judge Harlow will be replaced by Judge Wisz for future matters due to unavailability. During the hearing two weeks ago, Harlow was the judge who seemed most vocal around the potential obviousness of the 480 mg dose in Biogen's '514 patent, according to Abrahams, who sees the change as a possible positive for Biogen. However, he also cautions that "significant read throughs to this judge change may be limited" and keeps a Sector Perform rating on Biogen shares.

  • 04

    Dec

  • 05

    Dec

BIIB Biogen
$305.10

2.59 (0.86%)

11/12/19
RHCO
11/12/19
INITIATION
Target $337
RHCO
Buy
Biogen initiated with a Buy at SunTrust
SunTrust analyst Robyn Karnauskas initiated coverage of Biogen with a Buy rating and $337 price target. The analyst is positive on the company's risk-reward profile of its aducanumab gaining FDA approval, with added near-term value from its Spinraza as doctors and patients take time to gain familiarity, durability, and efficacy of newer drugs. Karnauskas sees further upside for Biogen from its interest in the Chinese market for their biosimilars and its capital allocation strategy with Samsung Bioepis.
11/12/19
11/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Arlo Technologies (ARLO) resumed with a Buy at Deutsche Bank. 2. Clarivate Analytics (CCC) initiated with a Hold at Stifel. 3. Stoke Therapeutics (STOK) initiated with a Buy at BTIG. 4. BioMarin (BMRN), Biogen (BIIB), and Amgen (AMGN) were initiated with a Buy at SunTrust. 5. Corteva (CTVA) initiated with a Buy at Redburn. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/19
WBLR
11/14/19
INITIATION
WBLR
Market Perform
William Blair says Ionis fairly valued on Spinraza headwinds
William Blair analyst Myles Minter initiated coverage of Ionis Pharmaceuticals with a Market Perform rating and $58 fair value estimate. Spinraza, which is marketed by Biogen (BIIB), generates about $2B in revenue per year and has revolutionized the treatment of spinal muscular atrophy, but its long-term growth potential faces headwinds, Minter tells investors in a research note. The analyst anticipates the recent approval of Novartis's (NVS) Zolgensma, an SMA gene therapy, will erode Spinraza's market share of new-start type-1 SMA patients. But more concerning, according to Minter, is the potential 2020 U.S. approval of Roche's (RHHBY) risdiplam, which he believes could erode Spinraza's total market share of type-2/3 patients given a more favorable oral route of delivery. The analyst sees Ionis shares as fairly valued at current levels given the near-term headwinds for its commercial franchise.
11/19/19
MSCO
11/19/19
NO CHANGE
Target $262
MSCO
Underweight
Mylan only IPR challenger remaining for Biogen's Tecfidera, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted that the U.S. Patent and Trademark Appeal Board issued an order indicating that Sawai and Biogen (BIIB) have settled their disputes regarding the key Biogen patent protecting Tecfidera, which he said leaves Mylan (MYL) as the only other IPR challenger. Although he expects investors to view this as a step in the right direction, he still sees the IPR continuing with Mylan remaining a key overhang on Biogen shares. Even if Mylan and Biogen were to settle, the PTAB will likely continue to issue a final written decision by February 2020 since the IPR has had an oral hearing, which puts the patent at risk, said Harrison. He keeps an Underweight rating on Biogen shares.

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BHVN

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EPZM

Epizyme

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