BTIG analyst Thomas Shrader has maintained their neutral stance on BIIB stock, giving a Hold rating on April 17.
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Thomas Shrader has given his Hold rating due to a combination of factors related to Biogen’s strategic direction and current market positioning. The company’s recent guidance highlights a focus on in-process R&D from collaborations, which includes a significant charge from their partnership with Stoke. This indicates a strategy to maintain a steady news flow through smaller deals, which could provide incremental growth opportunities.
Additionally, while Biogen’s historical expertise in autoimmune diseases and its manufacturing capabilities offer potential for future partnerships, the unpredictable nature of the neurology field and the complexities in dosing for treatments like Lecanemab present challenges. The valuation of Biogen, assessed through a discounted cash flow analysis, further supports a cautious approach. These elements collectively suggest that while there are promising aspects to Biogen’s strategy, the uncertainties and current market conditions warrant a Hold rating.
In another report released on April 17, BMO Capital also maintained a Hold rating on the stock with a $128.00 price target.
BIIB’s price has also changed moderately for the past six months – from $184.650 to $116.490, which is a -36.91% drop .