Morgan Stanley Reiterates Overweight on Biogen Idec Following AlphaWise Survey
In a report published Friday, Morgan Stanley analyst Marshall Urist reiterated an Overweight rating on Biogen Idec (NASDAQ: BIIB).
In the report, Urist noted, “Our AlphaWise survey of 121 neurologists in the US and Europe (performed in the month prior to Tecfidera approval) supports a strong launch, $4B+ in sales potential for Biogen's Tecfidera, and our Overweight rating. Roughly half of patients are expected to be on oral therapies within 4-6 years. This implies $4B+ in global sales assuming Tecfidera gains at least 50-60% of the oral segment, which is at the high end of long-term consensus of $3.4-4B. Of note, ABCR share declines from ~80% to ~30% while the high-efficacy segment gains 15% share over this period.”
Biogen Idec closed on Thursday at $217.30.
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|Nov 2014||Credit Suisse||Maintains||Outperform|
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