H.C. Wainwright analyst Andrew Fein lowered his price target for Biogen to $300 from $363 after the company and Eisai decided to stop clinical trials of aducanumab based on the futility results of the interim analysis of the Phase 3 trials. Investor focus will likely now shift to the pipeline growth and defense of Biogen’s multiple sclerosis franchise, Fein tells investors in a research note. He thinks Spinraza should continue to drive revenue growth in the near-term and believes Biogen has sufficient financial means to continue investing in the pipeline to support the long-term growth of the company. The analyst keeps a Buy rating on the shares.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.