Biogen price target raised to $203 from $187 at Brean Capital Brean Capital raised its price target on Biogen following the FDA approval of Tecfidera labeling. The approval removes an overhang and suggests consensus revenue guidance of $330M is achievable. Shares are Buy rated.
Biogen raises FY14 adjusted EPS view to $13.45-$13.55, consensus $13.10 Still sees revenue growth 38%-41% vs. 2013, consensus $9.69B. $&D expense is expected to be approximately 20% to 21% of total revenue.