William Blair analyst Myles Minter has maintained their bullish stance on BIIB stock, giving a Buy rating today.
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.
Myles Minter has given his Buy rating due to a combination of factors including Biogen’s strong quarterly performance and positive future outlook. The company’s revenue for the second quarter exceeded expectations, reaching $2.65 billion compared to the anticipated $2.35 billion. This was largely driven by the better-than-expected sales of Leqembi and the legacy MS franchise, despite anticipated challenges from generic competition.
Additionally, Biogen’s adjusted net income also surpassed forecasts, and the company has revised its 2025 revenue guidance to be stable compared to 2024, rather than declining. The increase in expected full-year EPS guidance further supports a positive outlook. Biogen’s ongoing pipeline developments, such as the initiation of Phase III studies for new treatments, also contribute to the optimism surrounding the company’s future growth prospects.
According to TipRanks, Minter is a 4-star analyst with an average return of 11.7% and a 50.92% success rate. Minter covers the Healthcare sector, focusing on stocks such as Moderna, Arcturus Therapeutics, and Axsome Therapeutics.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $175.00 price target.