Biogen (BIIB): Trading Opportunity Into December - BMO

October 3, 2016 9:09 AM EDT
Get Alerts BIIB Hot Sheet
Price: $290.84 -2.94%

Rating Summary:
    17 Buy, 16 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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BMO Capital analyst, Ian Somaiya, reiterated his Market Perform rating on shares of Biogen (NASDAQ: BIIB) after hosting an expert call that may present a trading opportunity. The expert argued that the evidence supporting the amyloid hypothesis of AD outweighs the evidence that undercuts it, but suggested that patient selection and trial design/execution key to demonstrating benefit to support regulatory approval.

He went on to estimate that Lilly's EXPEDITION-3 trial has a ~60% probability of success, with BIIB’s aducanumab >70% as long as rates of ARIA-E can be reduced with titration. The analyst believes that this presents a possible trading opportunity in BIIB with sola Phase 3 and aducanumab titration data (both in December).

No change to the price target of $304.

For an analyst ratings summary and ratings history on Biogen click here. For more ratings news on Biogen click here.

Shares of Biogen closed at $313.03 yesterday.

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