Piper Jaffray analyst Christopher Raymond raised his price target on
Biogen to $400 from $365 after “solid” Q2 results that he said were
overshadowed by what “investors are interpreting as highly encouraging
commentary” regarding the BAN2401 data that will be presented at
tomorrow’s AAIC meeting. Given what he sees as the “massive stock
re-rating potential” associated with a viable Alzheimer’s treatment, he
thinks investors should continue to own the stock into tomorrow’s
BAN2401 data and ahead of full Phase 3 data for aducanumab in 2020.
Raymond keeps an Overweight rating on Biogen shares.
https://bit.ly/2Odm08U
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