On Oct 31, major Wall Street analysts update their ratings for $Biogen (BIIB.US)$, with price targets ranging from $190 to $315.
Morgan Stanley analyst Terence Flynn downgrades to a hold rating, and adjusts the target price from $285 to $204.
Goldman Sachs analyst Salveen Richter maintains with a buy rating, and adjusts the target price from $320 to $290.
BofA Securities analyst Jason Zemansky initiates coverage with a hold rating, and sets the target price at $250.
Wells Fargo analyst Mohit Bansal maintains with a hold rating, and adjusts the target price from $225 to $190.
Jefferies analyst Michael Yee maintains with a buy rating, and maintains the target price at $250.
Furthermore, according to the comprehensive report, the opinions of $Biogen (BIIB.US)$'s main analysts recently are as follows:
Post-Q3 report observations indicate that the company's product launches continue to face challenges amidst escalating competitive dynamics. Additionally, the emerging pipeline catalysts for the firm are anticipated to mature mainly in 2026 and subsequent years.
The launch of Leqembi has been underperforming against expectations, coupled with a perceived constrained pipeline potential in the forthcoming year. There's an acknowledgment of an initial underestimation of the reimbursement and logistical challenges faced by Leqembi. A neutral stance is now being taken on Biogen, with a cautious perspective on lecanemab's progress.
Biogen's strong Q3 financial performance, with total revenue surpassing estimates and adjusted EPS also exceeding expectations, highlights the company's robust results. The firm acknowledges that the sales performance of Leqembi is ahead of consensus, indicating solid momentum in infrastructure development. It is expected that the introduction of IV maintenance and subQ forms will substantially enhance adoption in 2025.
Biogen's recent performance showcased quarterly revenue that met expectations and an earnings per share that exceeded forecasts. The company's future earnings guidance has been adjusted upward. The rollout of Leqembi is gathering pace, although logistical and capacity challenges persist as obstacles to its widespread adoption.
Here are the latest investment ratings and price targets for $Biogen (BIIB.US)$ from 13 analysts:
Note:
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