Sola News Negative for Biogen (BIIB) as Latest in Numerous Failures for the Mechanism - Baird

November 23, 2016 10:40 AM EST
Get Alerts BIIB Hot Sheet
Price: $280.66 +0.11%

Rating Summary:
    18 Buy, 16 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade BIIB Now!
Join SI Premium – FREE

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

Baird analyst Brian Skorney weighed in on Biogen (NASDAQ: BIIB), saying Eli Lilly's Solanezumab failure is a negative for the company.,

Skorney commented, "Lilly's registrational EXPEDITION 3 trial for solanezumab in mild Alzheimer's patients failed. Though some secondary endpoints favored sola, Lilly's admission that no regulatory filings will be pursued indicates that there was nothing in the data to support additional investigation. We think the news has a clearly negative read-through to Biogen's aducanumab as this study is just the latest in numerous failures for the mechanism."

The firm maintained a Neutral rating price target of $284.

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 $318.11 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, FDA, Trader Talk

Related Entities

Robert W Baird

Add Your Comment