Biogen, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Andrew Fein from H.C. Wainwright maintained a Buy rating on the stock and has a $194.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Fein’s rating is based on Biogen’s strategic advancements and promising pipeline developments. The company is poised for growth with multiple late-stage opportunities in Alzheimer’s, lupus, spinal muscular atrophy (SMA), and Parkinson’s disease. The Alzheimer’s franchise is particularly noteworthy, with lecanemab showing strong market uptake and the potential for further expansion through BIIB080 and the AHEAD study. These developments suggest a maturing market that could significantly bolster Biogen’s position.
In addition, Biogen’s diversification strategy is proving effective, as seen with the performance of Skyclarys and Zurzuvae. The neuromuscular pipeline, including high-dose Spinraza and the next-generation ASO salanersen/BIIB115, shows promise for future growth. Furthermore, the dual-MOA strategy in lupus, with litifilimab and dapirolizumab, is increasingly differentiated and addresses historical trial challenges. These factors collectively reinforce Biogen’s transition from a high-risk CNS focus to a more diversified growth story, justifying the Buy rating.
According to TipRanks, Fein is a 5-star analyst with an average return of 24.9% and a 52.49% success rate. Fein covers the Healthcare sector, focusing on stocks such as Alector, BioCryst, and Biogen.
In another report released today, Canaccord Genuity also reiterated a Buy rating on the stock with a $220.00 price target.