Deutsche Bank maintains a 'Buy' on Biogen Idec (BIIB); Hemophilia Survey Suggests Market Share Gains

Deutsche Bank maintains a 'Buy' on Biogen Idec (NASDAQ: BIIB) price target raised from $129 to $150.

Deutsche analyst said, "Biogen is developing a new longer-acting recombinant factor 8 (rFVIIIFc) that would compete with Baxter's Advate. One of the key controversies is, will patients stable on Advate switch to Biogen's product given its longer-acting profile. As the Street is skeptical this will occur, we conducted a global survey to assess the likelihood of patient switching to Biogen's product. Our survey found 40-57% switching likely given Biogen's profile & depending on price. We are raising our TP based on greater confidence in this revenue stream."

For an analyst ratings summary and ratings history on Biogen Idec click here. For more ratings news on Biogen Idec click here.

Shares of Biogen Idec closed at $133.16 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Wolfe Research Upgrades Biogen (BIIB) to Outperform
• LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform