Hi ,
Shares of Turnaround Letter Buy recommended Biogen (BIIB) surged over 15% in mid-day trading today on news that the U.S. Patent and Trademark Office gave a favorable ruling to Biogen regarding its multiple sclerosis treatment Tecfidera. The government agency said that Mylan NV failed to prove its case.
Tecifidera is Biogen’s largest revenue producer.
We continue to rate shares of BIIB as a Buy with a $360 price target.
Disclosure Note: One or more employees of the Publisher own shares of all Turnaround Letter recommended stocks, including the stocks mentioned in this note.