Jefferies raises target on Biogen, sees three-month Eloctate delay

|About: Biogen Inc. (BIIB)|By:, SA News Editor

The delay for FDA approval of Biogen's (BIIB -0.2%) Eloctate may be three months, Jefferies says, regarding the company's disclosure that issues related "to the validation of certain steps in the manufacturing process" may hold the hemophilia treatment up.

Like Deutsche's Robyn Karnauskas, analyst Thomas Wei is looking forward to November's EU regulatory meeting for news on RDP for Tecfidera.

Wei maintains his Buy rating on the shares and lifts his price target to $300 from $270.