Piper Jaffray analyst Christopher Raymond continues to recommend Biogen (BIIB) shares after a deeper dive on BIIB067, an antisense oligonucleotide targeting SOD1 for the treatment of SOD1-amyotrophic lateral sclerosis. 

With the recent discontinuation of aducanumab in mild Alzheimer's disease, the company's amyotrophic lateral sclerosis anti-sense oligonucleotide programs could help dispel the notion that Biogen has no pipeline, Raymond tells investors in a research note. He thinks the BIIB067 and BIIB078 programs could add $10 and $15, respectively, to the stock if successful.

Raymond keeps an Overweight rating on Biogen with a $280 price target. The stock closed yesterday up $3.55 to $220.26.