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HSBC downgraded Biogen (BIIB) to 'Reduce' with a $143 price target on December 10, citing concerns over declining royalty revenues.
Biogen's stock price has rebounded by nearly 20% over the past three months, driven by analyst optimism for its Alzheimer's drug, LEQEMBI.
The U.S. Securities and Exchange Commission has stopped the approval of exchange-traded funds offering more than 2x daily leverage, citing non-compliance with derivatives regulations. This impacts product issuers and signals a stricter stance on complex retail-focused products.
Biogen's stock faces conflicting signals as positive regulatory assessment for its ALS drug, QALSODY, in Canada contrasts with analysis showing significant revenue declines. This sets up a clash between future pipeline potential and current financial performance.
PTC Therapeutics has received approval from Health Canada for its drug, Sephience™ (sepiapterin), for the treatment of Phenylketonuria (PKU), a rare genetic disorder. This provides a new therapeutic option for a specific patient population.