Skip to main content

Market Overview

Nomura's Takeways From Biogen Idec's Analyst Meeting

Share:

Ian Somaiya on Friday commented in a note that Biogen Idec Inc's (NASDAQ: BIIB) management team during a recent analyst meeting pointed to potential reasons for the recent slowdown in Ecfidera uptake.

According to Somaiya, Biogen noted: "1) The burst of active switching caused by Tecfidera's launch has returned to normal levels; 2) the whole MS market is slowing; 3) some possible impact from the PML case; and 4) Plegidry launch could be taking Avonex switchers that previously would have switched to Tecfidera. Biogen believes the slowdown is likely temporary, and historically the overall MS market bounce back after 2-3 months."

Somaiya stated that the company's 2015 financial guidance, which is expected to be presented during the company's fourth quarter earnings report in January, will “be key to investors keeping Biogen as a core holding.” The analyst adds that he would look to become more positive on shares if low probability events in 2015, such as Tysabri in SPMS and BIIB037 in lupus nephritis have positive results or U.S. Tecfidera resumes a healthy pace of adoption.

Shares are Neutral rated with a $378 price target.

Latest Ratings for BIIB

DateFirmActionFromTo
Mar 2022StifelDowngradesBuyHold
Mar 2022RBC CapitalUpgradesSector PerformOutperform
Feb 2022Canaccord GenuityMaintainsBuy

View More Analyst Ratings for BIIB

View the Latest Analyst Ratings

 

Related Articles (BIIB)

View Comments and Join the Discussion!

Posted-In: Avonex BIIB037 Biogen Ecfidera Ian Somayia PlegidryAnalyst Color Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com