Jefferies Lifts Price Target on Biogen (BIIB), Strong CONFIRM Data Bodes Well For BG-12 Positioning

Jefferies ratcheted up its price target on Biogen (NASDAQ: BIIB) from $124 to $135 and reiterated their Buy rating following strong CONFIRM data which bodes well for BG-13 positioning.

The firm comments, "BIIB released positive top-line results from the second BG-12 Phase 3 study CONFIRM, showing an ARR reduction of 44% for BID dosing and 51% for TID dosing relative to placebo. With the overall profile of oral convenience, robust efficacy, and acceptable safety, we believe this helps position BG12 competitively as a front-line therapy."

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

Shares of Biogen closed at $116.92 yesterday.

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