Needham analyst Ami Fadia has maintained their neutral stance on BIIB stock, giving a Hold rating yesterday.
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Ami Fadia’s rating is based on the current understanding of Biogen’s near-term performance, which appears to be stable and well comprehended by the market. Despite this, there is potential for the company’s growth in the medium to long term, driven by its late-stage immunology pipeline.
Biogen’s development of dapirolizumab pegol (DZP) and litifilimab for systemic lupus erythematosus (SLE) and cutaneous lupus erythematosus (CLE) shows promise, with significant milestones expected in the coming years. However, given the timeline for these developments, the immediate impact on the company’s financial performance is limited, justifying the Hold rating at present.
In another report released yesterday, Stifel Nicolaus also maintained a Hold rating on the stock with a $144.00 price target.
Based on the recent corporate insider activity of 42 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.