Weekly Wrap: Market Underestimates Biogen
Poor trial data has created a buying opportunity in the pharmaceutical company. Plus, T. Rowe makes its fundholders whole, and Restoration Hardware misses the trend.
Jeremy Glaser: A wide-moat bargain emerges in a mostly quiet week, and T. Rowe Price remedies an embarrassing mistake. This time on the Morningstar Weekly Wrap.
Disappointing trial results for a new drug sent shares of Biogen lower this week. Even though we trimmed our fair value estimate slightly on the news, Karen Anderson thinks the market is being too pessimistic about the firm’s development pipeline.
Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.