BMO Capital Reiterates Outperform Rating on Biogen (BIIB)

BMO Capital analyst Evan David Seigerman reiterated an Outperform rating and $260.00 price target on Biogen (NASDAQ: BIIB).

The analyst comments "Leqembi approval in Britain comes as a welcome surprise following negative CHMP opinion; however, use requires a negative ApoE4 homozygote genotype. Following the CHMP opinion, many investors discounted the opportunity in Europe and may have expected a denial of Leqembi's MAA. Approval today could be a positive for BIIB shares, but removal of ApoE4 homozygotes from treatable patients reduces the treatable patient population. ApoE4 homozygosity is associated with Alzheimer's pathology and restriction removes treatment from those most likely to need it and requires a testing burden prior to treatment."

For an analyst ratings summary and ratings history on Biogen click here. For more ratings news on Biogen click here.

Shares of Biogen closed at $206.18 yesterday.

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