Connect with us

CWEB Business News

Biogen Shares Surge 40 percent on Positive lecanemab Data

Biogen Inc. (NASDAQ:BIIB) shares closed nearly 40% higher on Wednesday following the positive outcome of ph.III study of lecanemab in Alzheimer’s disease, with highly statistically significant results across the board.
Analysts at RBC Capital believe this should support a high likelihood of full approval, CMS reimbursement, and $8 billion in out-year WW end-user sales, and should transform the company into an earnings growth story again starting in 2024.
The analysts expect significant stock upside, raising their price target to $321 from $251, while reiterating their outperform rating.

More in CWEB Business News



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.