William Blair analyst Myles Minter has maintained their bullish stance on BIIB stock, giving a Buy rating on December 3.
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Myles Minter has given his Buy rating due to a combination of factors that highlight Biogen’s strategic positioning and potential for growth. The recent data presented at the American Epilepsy Society meeting indicates that zorevunersen, a therapy co-developed by Biogen for Dravet syndrome, shows significant promise not only in controlling seizures but also in potentially modifying the disease itself. This potential differentiation from other treatments, supported by new data comparisons and third-party studies, underscores the innovative edge Biogen holds in this therapeutic area.
Moreover, Biogen’s strategic acquisition of Alcyone to access the ThecaFlex DRx implantable device demonstrates a forward-thinking approach to easing patient burden and enhancing treatment delivery. Despite some safety considerations, such as CSF protein elevations, these have been benign, and the company’s proactive measures in addressing them are noteworthy. The anticipated completion of the EMPEROR study and the potential for another commercial product in rare diseases further solidify Biogen’s growth prospects, justifying the Buy rating.
In another report released on December 3, H.C. Wainwright also reiterated a Buy rating on the stock with a $194.00 price target.