RBC Capital and
Scotiabank maintain a buy rating for Biogen, while
BMO Capital remains neutral despite a price target adjustment by RBC. Major stake shuffling also continues with
Nisa Investment Advisors LLC and
Bank of New York Mellon Corp reducing their holdings, and
Blackhawk Capital Partners LLC acquiring new shares.
Biogen showcases encouraging data from Zorevunersen studies, and strides in Alzheimer’s treatment with BIIB080 receiving
FDA Fast Track Designation. The company was also keen on advancing its Spinal Muscular Atrophy (SMA) treatment.
However, Q2 EPS is expected to be affected by the R&D expense charge.
Biogen’s Q1 sales exceeded targets and they commenced Phase III Felzartamab study for a third kidney disease.
Revolutionary treatments for Dravet Syndrome and Friedreich Ataxia bring optimism. New products seem to be offsetting declining MS Franchise, contributing to strong revenue growth. Biogen takes a hit post earnings but remains resilient.
The company’s new Global Headquarters and Innovation Hub reach fruition while considering a bid amid merger development with Sage Therapeutics. Biogen’s Leqembi receives ALzheimer’s EU nod, and the ADA-MN therapy gets approval for SMA treatment.
Biogen BIIB News Analytics from Wed, 30 Oct 2024 07:00:00 GMT to Sat, 12 Jul 2025 18:23:36 GMT -
Rating 8
- Innovation -3
- Information 6
- Rumor -9
