Baird raised the firm’s price target on Biogen (BIIB) to $300 from $294 and keeps an Outperform rating on the shares. The firm said Biogen partner Eisai’s request for the EMA’s CHMP to reexamine the MAA for lecanemab in amyloid-positive early Alzheimer’s disease has paid off with a positive recommendation that excludes APOE4 homozygotes. Baird thinks this exclusion makes the application more palatable for the European Commission, which is expected to make the approval decision within 67 days.
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Read More on BIIB:
- Wolfe starts Biogen at Peer Perform, sees limited downside risk
- Biogen initiated with a Peer Perform at Wolfe Research
- Raymond James sees EU Leqembi uptake as more modest for Biogen than in U.S.
- Eisai receives positive CHMP opinion for Lecanemab in early Alzheimer’s disease
- EMA recommends Leqembi for treatment of early Alzheimer’s disease
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