BMO Capital Markets said Biogen Inc (NASDAQ: BIIB) shares should trade higher, despite a recent drug trial miss, on CTAD data (Clinical Trials on Alzheimer's Disease).
The CTAD data show:
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
However, the brokerage maintains its Market Perform rating on Biogen shares, with a price target of $331.
To Go More Bullish
“In order to get more constructive on BIIB, on Friday, we want to see data regarding: (1) ARIA-E severity in titration cohort; (2) 24- month efficacy magnitude; and (3) cognitive benefit from placebo patients switching to aducanumab in LTE,” analyst Ian Somaiya wrote in a note.
Earlier in Friday's morning session, hares of Biogen rose 5.13 percent to $304.39; however, at last check, shares were up just 0.94 percent at $292.25.