BIIB but it relates:
BoA upgrade..top picks OSIP,..DNA
<Banc of America Securities upgraded Biogen Idec (nasdaq: BIIB - news - people ) to "buy" from "neutral" and raised the 12-month price target to $88 from $56, based on the results of a survey on recently launched multiple sclerosis drug Tysabri. Banc of America said its data show that 20% of neurologists already identify Tysabri as their first-line therapy of choice, and 84% say that it could become their preferred first-line agent. In the second-line setting, 66% or neurologists intend to add or switch to Tysabri after relapse on another disease-modifying agent, with two-thirds of that coming from adding Tysabri to current therapy, thus slowing the erosion of Biogen's Avonex, the research firm said. Tysabri could grow annual sales from $388 million in fiscal 2005 to more than $3.2 billion by 2010; in addition, positive trial results, and eventual approval, in Crohn's Disease could provide upside to earnings estimates and drive Biogen above the target price, Banc of America said. Elsewhere in its biotechnology coverage, Banc of America's top picks are Genentech (nyse: DNA - news - people ) and OSI Pharmaceuticals (nasdaq: OSIP - news - people ), both rated at "buy" with respective price targets of $71 and $92. The firm's two least favorites are Trimeris (nasdaq: TRMS - news - people ) and Regeneron Pharmaceuticals (nasdaq: REGN - news - people ), both rated at "neutral" with respective price targets of $12 and $11.>
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