Baird raised the firm’s price target on Biogen (BIIB) to $300 from $294 and keeps an Outperform rating on the shares. The firm said Biogen partner Eisai’s request for the EMA’s CHMP to reexamine the MAA for lecanemab in amyloid-positive early Alzheimer’s disease has paid off with a positive recommendation that excludes APOE4 homozygotes. Baird thinks this exclusion makes the application more palatable for the European Commission, which is expected to make the approval decision within 67 days.
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