UBS Maintains a 'Neutral' on Biogen (BIIB); Updating Model for 2Q

UBS maintains a 'Neutral' on Biogen (NASDAQ: BIIB), raises PT from $106 to $110.

UBS analyst says, "We are updating our BIIB estimates following continued strength in the core multiple sclerosis (MS) franchise and ahead of highly anticipated BG-12 phase-III data. One of our key takeaways on the quarter was Tysabri strength (sales up 28% y/y) on strong demand and updated JC virus language on the label, which appeared to help drive patient adds. We see upside to our aboveconsensus Tysabri estimates, since results appear consistent with our survey data (published June 9) that suggested lower discontinuations even among JCV+ patients." (UBS raises FY12/13 EPS estimates to $6.24 and $7.04)

For more ratings news on Biogen click here and for the rating history of Biogen click here.

Shares of Biogen closed at $105.00 yesterday.

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