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Biogen upgraded by UBS on Alzheimer’s med

June 22, 2017

Biogen was upgraded at UBS to “neutral” from “sell” with a new price target of $270, up from $262.

UBS Analyst Carter Gould said the Cambridge, MA-based biopharmaceutical company’s risk/reward profile has improved due to recent progress with their Aducanumab drug to treat Alzheimer’s.

Market competition for Biogen’s spinal muscular atrophy treatment Spinraza has also been priced in more accurately, but Gould said there are still long term risks associated with competition from generic alternatives.

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