Goldman Sachs Tells Clients To Buy Biogen Idec (BIIB) on Today's Weakness
More News related to BIIB
- Facet Biotech Advises Stockholders to Take No Action in Response to Revised Biogen Idec Tender Offer
- Biogen (BIIB) Boosts Bid for Facet Biotech (FACT) to $17.50/Share in Cash
- Biogen Idec Increases Offer to Acquire Facet Biotech to $17.50 Per Share in Cash; Sends Letter to Facet Biotech Stockholders Describing Its Best-and-Final Offer
- InvestorSoup.com Issues Technical Trading Outlook for ARCA biopharma Inc.
- Genentech and Biogen Idec Receive a Complete Response from the FDA for Rituxan for Chronic Lymphocytic Leukemia
More News related to Analyst Comments
- Interesting Call Buying In Research In Motion (RIMM)
- Broadpoint.AmTech Reiterates a 'Buy' on Marvell Technology (MRVL); Raises Estimates & PT
- Unemployment Data Brings Hope: Art Hogan Weighs In
- Brean Murray Maintains a 'Buy' on athenahealth (ATHN); Lofty Valuation Surpassed Only by Lofty Goals
- Benchmark Raises American Tower's (AMT) Price Target to $50 on Strong Tower Demand
Goldman Sachs is out in defense of Biogen Idec Inc. (Nasdaq: BIIB) on today's weakness due to the 10th PML case and a competitor (Deutsche Bank) downgrade.
Shares of Biogen Idec are down 6.8% today on the PML disclosure and downgrade, which was a valuation call.
The firm said today's weakness is a buying opportunity. The firm continues to expect Tysabri to rebound. The firm expects the number of PML cases to rise, but doesn't expect cases above 0.1%. The firm estimates that with 10 PML cases, frequency for patients treated over 1 year is less than 0.04%.
The firm maintains their Buy rating.
Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php
Related Categories
Analyst CommentsTrader Talk
Stocks Mentioned
+0.80Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
