UPDATE: Morgan Stanley Raises PT on Biogen Idec on Long-Term Potential

In a report published Monday, Morgan Stanley analyst Marshall Urist reiterated an Overweight rating on Biogen Idec

, and raised the price target from $177.00 to $188.00. In the report, Urist noted, “We are positive on Tecfidera's long-term potential as 2015 consensus implies relatively conservative launch metrics, but the first launch quarters may gain momentum slowly...Our new Tecfidera interactive launch model allows detailed scenario analyses around eight launch variables: 1) patients warehoused, 2) share of patients initiating therapy, 3) share of therapy switchers, 4) share of patients returning to therapy, 5) price, 6) US gross to net, 7) 2-year discontinuation rate, and 8) RoW revenue.” Biogen Idec closed on Friday at $178.00.