TD Cowen analyst Phil Nadeau has maintained their bullish stance on BIIB stock, giving a Buy rating on February 7.
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Phil Nadeau has given his Buy rating due to a combination of factors, including Biogen’s ability to outperform expectations in the recent quarter and its disciplined cost management. While the company forecasts a modest revenue decline for 2026 as multiple sclerosis products shrink, he sees this being partly offset by expanding contributions from newer, higher-growth assets.
He also views Biogen as undervalued relative to the durability of its cash flows, especially after revising his models to reflect a slower fade in key royalty and legacy franchises. In addition, the steady uptake of Leqembi, coupled with upcoming subcutaneous formulations and a progressing pipeline, supports a higher discounted cash flow valuation and justifies raising his price target and maintaining a Buy stance.
In another report released on February 7, TipRanks – xAI also reiterated a Buy rating on the stock with a $223.00 price target.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BIIB in relation to earlier this year.