Biogen: Jefferies confirms TP, pending Ocrevus
(CercleFinance.com) - Jefferies confirms its Buy rating on Biogen shares, with an unchanged price target of $250 (cp $159, +0.
5%).
The analyst reports that "crucial" data from a Phase III trial of Ocrevus could arrive in H1 2025.
As a reminder, Roche and Biogen have collaborated to develop Ocrevus (ocrelizumab), a drug used to treat multiple sclerosis (MS).
We believe that this data, if positive, could boost Biogen's share price by 5-10%+, due to the significant extension of the royalty of around 20% on Ocrevus and an underestimated catalyst with low expectations, the broker says.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5%).
The analyst reports that "crucial" data from a Phase III trial of Ocrevus could arrive in H1 2025.
As a reminder, Roche and Biogen have collaborated to develop Ocrevus (ocrelizumab), a drug used to treat multiple sclerosis (MS).
We believe that this data, if positive, could boost Biogen's share price by 5-10%+, due to the significant extension of the royalty of around 20% on Ocrevus and an underestimated catalyst with low expectations, the broker says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.