UPDATE: Credit Suisse Raises PT on Biogen Idec on Higher Tecfidera and Hemophilia Sales Estimates

In a report published Wednesday, Credit Suisse analyst Ravi Mehrotra reiterated an Outperform rating on

, and raised the price target from $255.00 to $290.00. In the report, Credit Suisse noted, “We are raising EPS forecasts primarily based on higher Tecfidera and Hemophilia franchise peak sales estimates. We are taking our Tecfidera peak sales from $4.2B to $5.2B in 2018 and the Hemophilia franchise from $1.0B to $1.5B in 2020. We also have made other house-keeping changes to the model results in 7-17% and 10-19% top- and bottom-line increase respectively from 2014 to 2018. Our 2013, 2014, and 2015 EPS are $8.45, $11.54, and $14.02 respectively.” Biogen Idec closed on Tuesday at $244.92.