U.S. Markets open in 2 hrs 50 mins

Biogen pact gives low-risk entry into gene therapy, says Piper Jaffray

Piper Jaffray thinks Biogen Idec's (BIIB) partnership with Sangamo (SGMO) gives the company a low-risk way into the gene therapy area and also enhances Biogen's expertise in non-malignant hematology. The firm has an Overweight rating and $331 price target on Biogen.