Piper recommends Biogen shares after meeting with management

After hosting investor meetings with Biogen investor relations this week, Piper Jaffray analyst Christopher Raymond continues to recommend purchase of the shares. The analyst came away feeling like the “all-important” high-dose APOE4 subset analysis of the BAN2401 results “may be provided sooner than later.” If shown to have little impact on the overall placebo-adjusted ADCOMS benefit, this should be an important event, Raymond tells investors in a research note. Coupling this with “continued solid commercial momentum and a host of other value-enhancing catalysts,” the analyst continues to like the risk/reward on shares of Biogen. He keeps an Overweight rating on the name with a $400 price target.

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