Leerink Partners Upgrades Biogen (BIIB) to Outperform
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Leerink Partners upgraded Biogen (NASDAQ: BIIB) from Market Perform to Outperform with a price target of $365.00.
Analyst Geoffrey Porges commented, "This morning Biogen announced positive interim data for CHERISH, a phase III study of Spinraza (nusinersen) for the treatment of later-onset (Type II) spinal muscular atrophy (SMA). The positive outcome of this trial did not come as a surprise to us given our recent research with MEDACorp KOLs in the field of SMA, but the timing was certainly much earlier than the company’s guidance and than our expectations. The timing and result materially increases the assurance that the initial label for nusinersen will include all, or at least most forms of SMA and thus gives the drug even more near term revenue potential than we have modeled previously."
Shares of Biogen closed at $277.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Biogen (BIIB), Biotechs Gain Mid-Day
- MKM Partners Raises Price Target on Hartford Financial (HIG) to $55
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
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!