Deutsche Bank Maintains Buy Rating and $129 PT on Biogen Idec

A report from Deutsche Bank reiterates its Buy rating and $129 price target on Biogen Idec (NASDAQ: BIIB).

The report states, “Sanofi Aventis released results from the CARE MS II trial, which evaluated Lemtrada vs. Rebif in multiple sclerosis pts who had relapsed a prior therapy. As expected, efficacy data was solid but trial highlighted many safety concerns, which we believe will relegate Lemtrada to the salvage line & where it should not have a material impact on Biogen's MS franchise (BG-12, Avonex & Tysabri).”

BIIB closed Friday at $113.38.