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Biotech / Medical : Immunomedics (IMMU) - moderated
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From: scorman110/31/2024 2:25:22 PM
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Biogen (NASDAQ:BIIB) shares slid around 3% Thursday after Morgan Stanley analysts downgraded the stock from Overweight to Equal Weight and slashed the price target from $285 to $204.

The revision comes as the launch of Biogen's Alzheimer's drug Leqembi has fallen short of expectations. As a result, Morgan Stanley has trimmed its 2024 and beyond revenue estimates for Leqembi by 50%, now projecting worldwide sales of $2.4 billion in 2033, down from the prior estimate of $5.6 billion.

I'll take the bet that by 3033, sales will be zero
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