Cowen Bullish on Lilly's Lead in Alzheimer's Race -- Market Talk
Today 9:16 AM ET (Dow Jones)Print
9:16 EDT - Cowen raises price target on Lilly (LLY) to $85 from $78 amid a brighter outlook for LLY's experimental Alzheimer's drug, solanezumab. Biogen (BIIB) on Friday released positive results from a small study of its own treatment, which the investment bank says validate both drugs' mechanism of targeting amyloid in the brain to combat the disease. Though BIIB's data were "the best we have seen to date," Cowen says LLY is farther along in development; a late-stage trial is set to wrap up in late 2016. LLY falls 0.8% in light premarket trading to $75.51 after rallying 2.6% Friday to a fresh 11-year high. (peter.loftus@wsj.com; @Loftus)
(END) Dow Jones Newswires
March 23, 2015 09:16 ET (13:16 GMT)
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