William Blair analyst Myles Minter has reiterated their bullish stance on BIIB stock, giving a Buy rating today.
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Myles Minter has given his Buy rating due to a combination of factors related to Biogen’s strategic focus on developing innovative treatments for lupus. The company is advancing multiple programs, including dapirolizumab pegol and litifilimab, which target systemic lupus erythematosus and cutaneous lupus erythematosus, respectively. These efforts are part of Biogen’s broader strategy to address the unmet needs in lupus treatment, where current options are limited and often come with significant side effects.
Additionally, Biogen’s commitment to diversifying its pipeline through collaborations, such as with UCB and C4 Therapeutics, and its focus on multiple immunological pathways, positions the company to potentially become a leader in the lupus market. This strategic direction not only aims to mitigate clinical risks but also seeks to fill the revenue gap left by the declining multiple sclerosis franchise. These factors collectively underpin Minter’s optimistic outlook on Biogen’s future prospects.
Minter covers the Healthcare sector, focusing on stocks such as Dianthus Therapeutics, Arcturus Therapeutics, and Argenx Se. According to TipRanks, Minter has an average return of 19.3% and a 57.55% success rate on recommended stocks.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $194.00 price target.