On Nov 01, major Wall Street analysts update their ratings for $Biogen (BIIB.US)$, with price targets ranging from $190 to $302.
Morgan Stanley analyst Terence Flynn downgrades to a hold rating, and adjusts the target price from $285 to $204.
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.
TD Cowen analyst Phil Nadeau maintains with a buy rating, and maintains the target price at $275.
Furthermore, according to the comprehensive report, the opinions of $Biogen (BIIB.US)$'s main analysts recently are as follows:
The company's recent product launches continue to face challenges amidst a backdrop of intensifying competition. Furthermore, significant developments from the company's emerging pipeline appear to be projected for 2026 and later.
The launch of Leqembi has not met expectations, and there appears to be a limited range of pipeline opportunities in the coming year. The analyst acknowledges a prior underestimation of the initial reimbursement and logistical challenges faced by Leqembi. A balanced risk/reward perspective is now seen for Biogen, with a cautious projection for lecanemab's progress.
Biogen's third-quarter financial performance was robust, with total revenues of $2.47 billion surpassing estimates of $2.38 billion and consensus of $2.43 billion, while adjusted earnings per share of $4.08 exceeded the anticipated $3.75 and consensus of $3.77. The sales trajectory of Leqembi is seen to be exceeding consensus, indicating a vigorous build-up of infrastructure. It is expected that the intravenous maintenance and subcutaneous forms will considerably enhance adoption in the year 2025.
Biogen's Q3 revenue met expectations while EPS surpassed projections. The company also increased its EPS guidance for 2024. The launch of Leqembi is gathering pace, although logistical and capacity constraints are still impeding wider adoption.
Here are the latest investment ratings and price targets for $Biogen (BIIB.US)$ from 11 analysts:
Note:
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