Evercore ISI resumed coverage of Biogen (BIIB) with an Outperform rating. Biogen’s recent update “brings a mix of insights regarding the tau program for Alzheimer’s treatment” and while the primary efficacy endpoint was not met, there are “key nuances worth noting,” the analyst tells investors. Accelerating EPS potential appears favorable and the current EPS forecast of about $15 “might see meaningful upside,” the analyst added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BIIB:
- Biogen price target raised to $225 from $214 at Piper Sandler
- Hold Rating Maintained on Biogen as BIIB080 Moves to Phase 3; Risk-Reward Seen Balanced with Unchanged $206 Price Target
- Biogen Buy Rating Reiterated as Tau Data Eases Overhang; Price Target Maintained at $225
- Biogen Rated Hold as Analyst Cites Mixed Alzheimer’s Data and Commercial Hurdles; $203 Price Target Reiterated
- Biogen CELIA topline readout in Alzheimer’s ‘historic,’ says H.C. Wainwright