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$biib Biogen upgraded to Buy from Neutral at Citi
Citi analyst Robyn Karnauskas upgraded Biogen to Buy with an increased price target of $305. The stock closed yesterday up 24c to $264.91. With the Alzheimer's Phase 2 data already reported and no Phase 3 results until 2019/20, upside in the stock rests on the stability of Biogen's multiple sclerosis business and success of the Spinraza launch in spinal muscular atrophy, Karnauskas tells investors in a research note. Her firm's proprietary survey suggests upside to Spinraza estimates. Further, the analyst's "deep dive" analysis suggests longer term estimates for Biogen's MS business are fair to conservative