Leerink Partners analyst Marc Goodman has maintained their bullish stance on BIIB stock, giving a Buy rating on August 2.
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Marc Goodman has given his Buy rating due to a combination of factors, including Biogen’s recent strong quarterly performance and strategic pipeline transitions. The company exceeded expectations, particularly with its products Zurzuvae, Leqembi, and Skyclarys, which have shown promising results. Biogen’s management is strategically focusing on diversifying its pipeline from primarily CNS to include nephrology and immunology, while maintaining a core of neurology-focused programs. This shift is expected to help manage the decline in MS revenues until new franchises can potentially drive growth in the future.
Goodman remains optimistic about Biogen’s potential in the competitive markets with felza and sees a high-risk, high-reward opportunity in the lupus space. Additionally, he views the zorevunersen asset for Dravet syndrome as a strong potential driver for international sales. The next-generation Spinraza asset, salanersen, is also seen as a promising contributor to the company’s growth. Despite low expectations for Biogen, Goodman believes that the company’s strategic focus and potential pipeline successes could lead to significant stock appreciation in the coming years.
Goodman covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals, Evolus, and Axsome Therapeutics. According to TipRanks, Goodman has an average return of 4.9% and a 47.36% success rate on recommended stocks.
In another report released on August 2, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $146.00 price target.