Goldman's optimistic view of Alzheimer's drug lifts Biogen shares
Goldman Sachs (NYSE: GS) cited Biogen’s (Nasdaq: BIIB) experimental Alzheimer’s drug aducanumab as a major reason for its addition of the US biotech company to the investment bank’s Equity Conviction List.
This is effectively a strong recommendation to investors to buy stock, and markets reacted to the news, issued in a research note by Goldman Sachs analysts, by sending Biogen shares up 2% in Wednesday’s trading, to a closing price of $294.08.
The analysts noted that, based on their expectation for late-stage data on aducanumab in late 2019 or 2020, it could be one of the first disease-modifying drugs to reach the multi-billion dollar Alzheimer’s market.
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