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Expect A Strong Quarter From Biogen: Instinet

Biogen (BIIB) will report earnings on Tuesday, and Instinet's Christopher Marai and his team are upbeat about the results.

Marai reiterated a Buy rating and $355 price target on Biogen Friday, and tweaked his sales and earnings estimates higher as well. He expects a strong quarter for its spinal muscular atrophy drug, Spinraza, and he expects the company to provide strategic updates for its recently acquired assets on its conference call.

More detail from the note:

BIIB reported $47mn in Spinraza sales in 1Q...