Mizuho Securities analyst Salim Syed has maintained their bullish stance on BIIB stock, giving a Buy rating yesterday.
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Salim Syed has given his Buy rating due to a combination of factors tied to Biogen’s pipeline progress and improved future catalysts. He highlights that modestly updated assumptions for key development programs support a higher valuation, prompting an increase in his price target to $207. In particular, he points to the ongoing rollout of Leqembi, noting recent U.S. approval for subcutaneous maintenance dosing and the potential for subcutaneous initiation approval in the first half of 2026 as important commercial drivers.
Syed also underscores multiple late-stage and mid-stage clinical readouts expected in 2026 as central to his constructive view. These include Phase 3 data for litifilimab in systemic lupus erythematosus planned by the end of 2026, Phase 2 results for BIIB080 in early Alzheimer’s disease anticipated around mid-2026, and Phase 2 data for BIIB122 in Parkinson’s disease expected during 2026. Additionally, he notes further upside potential from external collaboration options, such as Eli Lilly’s TB3 program, which could add to Biogen’s long-term growth profile. Taken together, these elements support his Outperform rating and reinforce his confidence in the company’s medium-term outlook.
Syed covers the Healthcare sector, focusing on stocks such as Incyte, Biogen, and BridgeBio Pharma. According to TipRanks, Syed has an average return of -3.1% and a 41.53% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $210.00 price target.