Biogen Slips as Drug for Neurodegenerative Disease ALS Disappoints By Investing.com


© Reuters.

By Dhirendra Tripathi

Investing.com – Biogen stock (NASDAQ:) fell 3.3% on Monday as the company’s experimental drug to treat neurodegenerative disease ALS failed to reach its primary goal.

The news comes as Needham reiterated a buy rating for the stock with a target of $400. That price is 47% higher than the stock’s current level of $272.

The company said it saw favorable trends in other measures of progress toward treating the fatal disease, and would engage with all the stakeholders to determine potential next steps.

Amyotrophic lateral sclerosis or ALS is uniformly fatal with an average survival of three to five years. The most common cause of death is respiratory failure.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link