Biogen experiences a loss of 6.4% over 4 weeks but there are predictions of a potential trend reversal. The company's profit guidance has been raised following traction gained by Alzheimer's drug, Leqembi, which similarly boosts the forecast. Biogen receives a consensus recommendation of 'Moderate Buy' by brokerages and demonstrates key highlights in its Q3 2024 earnings results. The company also surprises with a boost from Alzheimer's drugs despite revenue declines. Biogen is set to realign resources for its Alzheimer's Disease franchise and, along with Beckman Coulter and Fujirebio, collaborate on a test for Tau Pathology in Alzheimer's Disease. Though transactions with Biogen may look oversold, they appear to be an investment opportunity. Their clinical studies also show positive topline results, one being a successful study of higher dose regimen of Nusinersen for treating Spinal Muscular Atrophy. New initiatives such as collaboration with Ionis, acquisitions, and increased stock holdings, are further plans Biogen executes to reach its goals. While Biogen's stock declines by 20.9%, the year to date calls for a decision on retaining the stocks, there is continuous approval and launching of Leqembi in different locations for Alzheimer's treatment.
Biogen BIIB News Analytics from Wed, 31 Jan 2024 08:00:00 GMT to Sat, 09 Nov 2024 19:30:00 GMT -
Rating 3
- Innovation 8
- Information 7
- Rumor 4
