Biogen (BIIB): nusinersen Is In the Stock - Leerink
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Leerink Partners analyst, Geoffrey Porges, reiterated his Market Perform rating on shares of Biogen (NASDAQ: BIIB) following Biogen’s disclosure of positive pivotal and phase II trial data for spinal muscular atrophy (SMA) treatment with nusinersen.
The analyst believes that most of the value of nusinersen is already reflected in Biogen’s stock price. However, there could be another $8-$9 on approval, presuming regulators grant the company the broad label they are seeking.
No change to the price target of $367.
Shares of Biogen closed at $298.30 yesterday.
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