Biogen upcoming BIIB098 data an overlooked catalyst, says Piper Jaffray. Piper Jaffray analyst Christopher Raymond believes investor sentiment on Biogen (BIIB) overlooks the H2H tolerability data for BIIB098 versus Tecfidera coming in the first half of 2018 Though BIIB098 is largely discounted as an intellectual property play "or worse," the readout, if positive, may be an important catalyst ahead of FDA approval in Q4 of 2019, Raymond tells investors in a research note. He suspects that if BIIB098 shows meaningful tolerability improvement over Tecfidera, "docs will likely take notice." Further, Raymond's new neurologist survey indicates that while the launch trends of Roche's (RHHBY) multiple sclerosis drugOcrevus "appear to be improving," other share trends, including those for Tecfidera and Tysabri, "remain stable." The analyst keeps an Overweight rating on Biogen with a $400 price target.
