Leerink Partners Upgrades Biogen (BIIB) to Outperform
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. 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
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
- Illumina (ILMN) Lower as Morgan Stanley Cuts Numbers, Sees Slow Growth Persisting
- Credit Suisse Downgrades NetApp (NTAP) to Underperform
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!