Baird Incrementally Positive on Biogen (BIIB) Nusinersen Data; PT to $284

Baird analyst Brian Skorney bumped his price target on Biogen (NASDAQ: BIIB) to $284.00 (from $268.00) but lefts his Neutral rating, saying they are incrementally positive on nusinersen interim Phase 3 results.

Skorney commented, "Results are in, earlier than expected, and nusinersen appears to have done what few other CNS antisense oligos have done before -- shown a statistically significant effect on a key functional endpoint. This success in treating SMA, the first ever for the most common genetic cause of infant death, is a major achievement. We are increasing our price target to $284 on increased probability of success for nusinersen."

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 $289.93 yesterday.

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