FMTX - Biogen could reach over $600/share: Goldman Sachs CRISPR upgraded on follow-up data; more in today's analyst action

goir/iStock via Getty Images Goldman Sachs estimates Biogen to reach above $600 Projecting $28.4B of peak sales for newly-approved Alzheimer’s therapy aducanumab, Goldman Sachs analysts led by Terence Flynn expects Biogen (BIIB) shares to reach $639.00 apiece indicating a premium of ~61.1%. The firm has raised the price target and revenue projection for the company indicating $436.00 and ~$314.00 per share target under the base case and bear case scenarios to imply an upside of ~9.9% and a downside of ~20.8%, respectively. Arguing that the decision indicates an “increasingly accommodative FDA” for treatments targeting diseases with a highly unmet need, the analysts view positive implications for the biopharma sector in general. However, last week, Citi analyst Mohit Bansal cautioned that the expensive price tag of aducanumab could renew the debate on drug pricing. Cantor remains positive on Ascendis to win FDA approval for TransCon hGH Last Friday, Ascendis Pharma A/S

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Biogen could reach over $600/share: Goldman Sachs, CRISPR upgraded on follow-up data; more in today’s analyst action