Biogen-Idec (NASDAQ:BIIB): Cautious comments and a downgrade following another PML case
Notable Calls (June 29th, 2009) Writes:
div style="text-align: justify;"span style="display: block;" id="formatbar_Buttons"span class="" style="display: block;" id="formatbar_JustifyFull" title="Justify Full" onmouseover="ButtonHoverOn(this);" onmouseout="ButtonHoverOff(this);" onmouseup="" onmousedown="CheckFormatting(event);FormatbarButton('richeditorframe', this, 13);ButtonMouseDown(this);"img src="http://www.blogger.com/img/blank.gif" alt="Justify Full" class="gl_align_full" border="0" //span/spanspan style="font-weight: bold;"Biogen-Idec (NASDAQ:BIIB)/span is getting some cautious commentary after the co reported another case of PML in Ex-U.S.,confirmed June 23, 2009. This is the 10th confirmed PML case since Tysabri was relaunched in July 2006. This patient had received 30 doses of Tysabri therapy.br /br /span style="font-weight: bold;"- Deutsche Bank is downgrading BIIB shares from Buy to Hold/span, as they believe the shares are now fairly valued. Firm notes that when they upgraded, they argued that at about $42/ share BIIB shares were pricing in an overly pessimistic Tysabri scenario (i.e. that it would decline dramatically or even be pulled from the market). Tysabri, however, continued to grow. In their opinion, the stock is now pricing in reasonable Tysabri expectations and no longer warrants being one ...


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