Morgan Stanley jumps from bear to bull on Biogen (NASDAQ:BIIB

published 27.07.2020 11:23

Image of article 'Morgan Stanley jumps from bear to bull on Biogen (NASDAQ:BIIB'

Morgan Stanley has upgraded Biogen (NASDAQ:BIIB) to Overweight from Underweight citing a favorable risk profile on Alzheimer's candidate aducanumab.

Analyst Matthew Harrison also upped his price target to $357 (31% upside) from $263 saying the current price reflects "less than a 25% chance" for an FDA nod.

On the negative side, he believes that there is at least 10% downside risk from generic encroachment on MS med Tecfidera (dimethyl fumarate) which accounts for almost 1/3 of sales.

by Douglas W. House from seekingalpha.com

Free awesomeness straight to your inbox!

Sign up now for this free newsletter to receive hand picked content, covering topics like Lifestyle, Business & Technology.

Free Newsletter Sign up now!

..or jump directly to the latest posts!