Biogen stock price target cut to $247 from $341 at SVB Leerink [MarketWatch]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: MarketWatch
Biogen stock price target cut to $247 from $341 at SVB Leerink SVB Leerink analysts cut their price target on shares of Biogen Inc. BIIB, -1.40% to $247 from $341 on Friday. "The uncertainties about the outlook for their MS and SMA franchises are significant," wrote analysts led by Geoffrey Porges, who maintained their market perform rating on the stock. Porges said he and his team "assume that the company takes the responsible decision to terminate all further investments in beta amyloid-directed medicines (which has not occurred), and saves their investors the cash and saves patients and investigators from the burden of such studies. If Biogen does not make this decision, then our adjusted expense forecast could be too low, with further negative effects on our valuation even compared to our new PT." However, despite doubts about the efficacy of drugs based on the amyloid hypothesis, Biogen is forging ahead with its next amyloid-based trial; drug development partner Eisai Co. Ltd.
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BIIB
Earnings
- 2/14/24 - Miss
BIIB
Sec Filings
- 4/12/24 - Form PRE
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- BIIB's page on the SEC website