2022-11-30 07:30:33 BIIB Biogen
11/30/22 11/3007:30 11/30/2207:30 | Biogen price target raised to $247 from $218 at WedbushWedbush analyst Laura Chico raised the firm's price target on Biogen to $247 from $218 and keeps a Neutral rating on the shares. The analyst notes detailed Phase 3 lecanemab data were presented concurrently at CTAD and in the New England Journal of Medicine. Detailed results were largely as advertised with consistent improvements across various AD scales/measures. Subgroup analyses depict certain divergences on response outcomes, but not enough to derail a potential approval in her view. Chico thinks the data reinforces the likelihood of a potential lecanemab approval. What keeps her cautious is the need for broader reimbursement via CMS. |
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