RBC Capital analyst Brian Abrahams lowered his price target on Biogen to $236 and kept his Sector Perform rating after the failure of its two Alzheimer’s disease trials. The analyst notes that investors will now shift their focus towards the upcoming IP developments risks for Tecfidera and potential competition to its Spinraza, but also sees “few near-term opportunities to generate enthusiasm” for Biogen’s ability to “fill the gap left by aducanumab and out-year loss of base business revenues.”
https://thefly.com/landingPageNews.php?id=2883685
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