Biogen, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Terence Flynn from Morgan Stanley maintained a Hold rating on the stock and has a $144.00 price target.
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Terence Flynn’s rating is based on a combination of factors surrounding Biogen’s recent developments and market dynamics. The approval of the subcutaneous formulation of Leqembi is seen as a positive step, potentially easing the treatment burden for Alzheimer’s patients and caregivers. However, the pricing of the new formulation presents a significant premium over the existing intravenous option, which may impact its adoption despite its convenience.
Furthermore, while there is optimism about the future preference for subcutaneous dosing, current reimbursement policies favor the intravenous method, creating a hurdle for widespread acceptance. Additionally, competitive pressures from other treatments like Kisunla, which offers a fixed duration dosing advantage, add to the uncertainty. These factors collectively contribute to Flynn’s Hold rating, indicating a cautious outlook amid both opportunities and challenges for Biogen.
According to TipRanks, Flynn is a 4-star analyst with an average return of 3.4% and a 54.25% success rate. Flynn covers the Healthcare sector, focusing on stocks such as Gilead Sciences, BioNTech SE, and Biogen.