Morgan Stanley provided color on Baxter BAX. In a research report published today, the rating agency commented on Biogen's BIIB new product, which does not seem to be threatening Baxter's products in the same field.
In the report, Morgan Stanley states, “New pharmacokinetic data for Biogen's long-acting
rFVIII compound suggests the drug is unlikely to
improve dosing frequency beyond 2x weekly. In our
view, this dosing profile will not provide a material
competitive advantage over current therapies that
require three injections per week. This development
confirms our prior view but may ease consensus fears
over Baxter's recombinant franchise and provide some
relief to the stock to the extent concerns over rFVIII
competitive risk continue to pressure the multiple.”
At the moment, Morgan Stanley has an Overweight rating placed on the company's stock. On Tuesday, Baxter added 0.55% to its value to finish the day at $60.21.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in