- Stifel upgraded Biogen Inc (NASDAQ:BIIB) from Hold to Buy, saying shares have faded since positive lecanemab data in mild Alzheimer’s.
- It raised the price target from $223 to $299.
- The analyst worries about residual competitive/commercial risks, notwithstanding the uncertainty around Biogen’s future CEO.
- Stifel views upcoming Roche Holding AG’s (OTC: RHHBY) gantenerumab data are unlikely to live up to the high bar lecanemab recently set and thinks there’s a meaningful commercial role for lecanemab even if Eli Lilly And Co’s (NYSE: LLY) donanemab succeeds based on lecanemab’s substantially lower rate of ARIA.
- Related: These Stocks Are On The Radar After Biogen-Eisai’s Surprising Alzheimer’s Trial Win.
- Near term, in the most likely gantenerumab data scenarios, Stifel analyst thinks Biogen shares trade higher.
- It notes that the stock set-up is admittedly tricky, and the risk/reward is upside-biased, as there’s more skepticism than anticipated on what looks like a best-case scenario for CLARITY-AD.
- Also, according to a recent research report, lecanemab’s benefit to patients might be limited.
- Price Action: BIIB shares are up 7.04% at $271.54 on the last check Thursday.
PureCycle Technologies And SK Geo Centric Invest In Building First Polypropylene Recycling Plant In Asia
SKGC and PureCycle signed an agreement to create a joint venture on October, 20 2022. The signing ceremony was attended by Na Kyung-soo, CEO of SKGC, and Dustin Olson, CEO of PureCycle
With 50/50 ownership,
