Jefferies Lifts Target on Biogen (BIIB) to $176, Hemophilia Data Adds To Valuation

Jefferies boosted its price target on Buy-rated Biogen (NASDAQ: BIIB) from $164 to $176.

"BIIB announced positive topline Phase 3 data for long-acting factor IX (FIX-Fc) for hemophilia showing lower bleeding rates and longer-than-expected dosing interval with prophylactic vs. on-demand use," the analyst comments. "Although FIX-Fc in hemophilia B represents a smaller market opportunity than hemophilia A, we are encouraged for the potentially differentiated profile with less frequent dosing and benign safety and are raising our PT from $164 to $176."

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 $151.62 yesterday.

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