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Fly News Breaks for February 5, 2020
Feb 5, 2020 | 14:42 EDT
After the USPTO issued a final written decision that Mylan (MYL) has not shown that the Tecfidera '514 patent is unpatentable, Guggenheim analyst Yatin Suneja estimated that five years of additional Tecfidera exclusivity could be worth $80-$90 per Biogen (BIIB) share. The analyst, who called this decision the key near-term overhang on Biogen's stock, said that now "all eyes will be focused on adacanumab's BLA acceptance" and an FDA decision potentially later this year. Suneja has a Buy rating on Biogen shares, which have jumped $52.80, or 18.6%, to $336.09 in afternoon trading.
News For BIIB;MYL From the Last 2 Days
Jul 23, 2021 | 16:32 EDT
Get caught up quickly on the top news and calls moving stocks with these Top Fives, as compiled by the editors of The Fly.  1... To see the rest of the story go to See Story Here
Jul 23, 2021 | 06:27 EDT
RBC Capital analyst Brian Abrahams lowered the firm's price target on Biogen to $341 from $361 and keeps a Sector Perform rating on the shares. The company's base business is performing well but clarity on its aducanumab is "difficult to interpret", the analyst tells investors in a research note. Abrahams adds that adu's processes for P&T, MRI/PET scanning, and reimbursement are all slow and likely to continue to obscure near-term visibility on potential demand and steady-state deliverability.