Jefferies Maintains a 'Buy' on Biogen (BIIB); Favorable Gilenya Update

Jefferies maintains a 'Buy' on Biogen (NASDAQ: BIIB) price target of $137.00.

Analyst, Thomas Wei, said, "Novartis (NYSE: NVS) held a Friday conference call to provide a Gilenya update, including Article 20 resolution. The European Medicine Agency concluded Gilenya’s benefits outweigh risks, but EMA and FDA recommended increased CV monitoring while starting therapy. While the review's completion is positive for Gilenya, we believe restrictions will likely encumber Gilenya commercially and bolster our competitive thesis for BIIB’s Tysabri and BG-12."

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 $127.23 yesterday.

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