Tim Anderson, an analyst from Bank of America Securities, reiterated the Hold rating on Biogen. The associated price target remains the same with $167.00.
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Tim Anderson’s rating is based on several factors that contribute to a Hold recommendation for Biogen’s stock. Despite being one of the more affordable options in the large-cap biopharmaceutical sector, Biogen’s growth prospects appear limited. The company’s revenue and earnings per share projections remain relatively flat over the coming years, which does not present a strong case for a Buy rating.
While Biogen’s pipeline includes promising drugs, such as BIIB080 and litifilimab, these are not expected to significantly impact the company’s performance in the near term. Additionally, the performance of Leqembi, a key product for Biogen, is progressing as anticipated but lacks a compelling catalyst for substantial growth. The potential upside could be realized if Eli Lilly’s TRAILBLAZER-ALZ3 study yields positive results, but this is not expected until 2026. As such, the current valuation and growth outlook justify maintaining a Hold rating.
In another report released on October 10, Citi also maintained a Hold rating on the stock with a $153.00 price target.