RBC Capital analysts provided their views on Biogen Inc. (NASDAQ:BIIB), seeing good reward/risk into CTAD setup. Following lecanemab’s positive ph.III topline data last month, the analysts have been receiving significant interest from both specialist and generalist investors in the Alzheimer’s space. With November 29th full data approaching, the analysts believe the focus has begun to shift towards Roche’s gantenerumab, as investors look to understand how that drug’s readout can influence regulatory (both FDA and CMS) as well as commercial dynamics for the class.
The analysts believe that lecanemab should still have the edge over gantenerumab given its stronger historical data, and see a favorable setup for the company given the greater likelihood of missteps for gante (in light of historical data and more complex trial design) than for lecanemab’s full data to surprise to the downside. The analysts reiterated their outperform rating and $310 price target on the company’s shares.