Analyst Salveen Richter of Goldman Sachs maintained a Buy rating on Biogen, retaining the price target of $197.00.
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Salveen Richter has given his Buy rating due to a combination of factors including Biogen’s strategic positioning in the Alzheimer’s market and its promising pipeline developments. Despite a slight underperformance compared to the sector, Biogen has outperformed broader market indices, reflecting investor confidence in its valuation and potential catalysts.
The company’s focus on Alzheimer’s treatments, particularly the progression of Leqembi and potential interim data from related trials, is seen as a significant growth driver. Additionally, Biogen’s business development efforts and pipeline expansion, including assets in lupus and immune-mediated diseases, are expected to contribute positively to its future performance. These elements, combined with the gradual erosion of its multiple sclerosis business and potential revenue beats, underpin the Buy rating.
BIIB’s price has also changed moderately for the past six months – from $119.510 to $149.890, which is a 25.42% increase.