Biogen Buy Rating Reiterated as CELIA Phase 2 Diranersen Data De-Risk Tau Strategy and Support Unchanged $237 Price Target

H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Biogen today and set a price target of $237.00.

Andrew Fein has given his Buy rating due to a combination of factors tied to Biogen’s emerging leadership in tau-targeted Alzheimer’s therapies. He views the CELIA Phase 2 data for diranersen as a landmark, highlighting robust and reproducible reductions in tau pathology plus early signs of cognitive benefit, even though the study was not powered to fully confirm efficacy at this stage.

Fein also emphasizes the differentiated profile of diranersen, including infrequent intrathecal dosing, no ARIA risk, and the Alcyone delivery platform, which together support strong commercial potential and combination use with existing anti-amyloid drugs. In his view, CELIA not only strengthens Biogen’s standing in symptomatic and presymptomatic Alzheimer’s disease, but also de-risks the broader MAPT/tau-lowering field, reinforcing the company’s strategic positioning and justifying the reiterated $237 price target and Buy recommendation.

In another report released today, RBC Capital also maintained a Buy rating on the stock with a $222.00 price target.