UPDATE - UBS Upgraded Biogen (BIIB) to Buy; Reason to Believe in BG-12’s CONFIRM

UPDATE - UBS upgraded Biogen (NASDAQ: BIIB) from Neutral to Buy. PT increased from $110 to $113.

UBS analyst says, "We are upgrading BIIB shares to Buy on multiple drivers of potential upside, most importantly BG-12 in MS. We believe weakness in BIIB shares has been due to uncertainty around whether BG-12 will differentiate itself from Copaxone in the the ph3 CONFIRM trial (we expect data in Oct). We reviewed the MS literature and are more comfortable Copaxone will not significantly outperform expectations (see inside for details), solidifying BG-12’s place as a significant player in the $11B MS market, driving upside to estimates and significant earnings leverage."

To see more ratings changes on BIIB, Click Here

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Zurn Water Solutions (ZWS) Reiterated at Buy by Stifel on New Product Development Momentum
• PennyMac Mortgage Investment Trust (PMT) PT Lowered to $10 by UBS on Lower MSR Earnings