Baird Reiterates a 'Neutral' on Biogen (BIIB); Conservative FY12 Guidance - However Still All About Pipeline

Baird reiterates a 'Neutral' on Biogen (NASDAQ: BIIB), raises price target of $122.00.

Baird analyst says, "While one could quibble with the quarter and outlook, we think BIIB will continue receiving the benefit of the doubt in front of BG12's approval and key Phase III hemophilia and ALS read-outs. While we are not upgrading here, given the scarcity value assigned to late-stage pipeline events complemented by stable commercial stories, the path of least resistance appears higher - at least near term - for BIIB shares."

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 $116.58 yesterday.

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