UPDATE: Stifel Nicolaus Increases PT to $168 on Biogen Idec on Hemophilia Trial
Stifel Nicolaus reiterated its Buy rating on Biogen Idec (NASDAQ: BIIB) and increased its price target from $167 to $168.
Stifel Nicolaus commented, "Biogen and partner Swedish Orphan Biovitrum (Sobi) announced positive top-line data from the Phase III B-LONG trial of rFIXFc, a long-acting blood clotting factor, in patients with hemophilia B. This condition is currently typically treated with market leader BeneFIX (Pfizer; 2011 WW sales $693M). … We see the B-LONG data as sufficient for rFIXFc approval; we expect a 1H13 filing and mid 2014 launch."
Biogen Idec closed at $151.62 on Wednesday.
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