William Blair analyst Myles Minter has maintained their bullish stance on BIIB stock, giving a Buy rating on April 29.
Myles Minter’s rating is based on Biogen’s strong financial performance in the first quarter, where the company exceeded both its own and consensus revenue estimates. The company’s quarterly revenues reached $2.43 billion, surpassing the expected $2.30 billion and the consensus of $2.23 billion. This positive performance is further supported by adjusted net income figures that also beat expectations, highlighting Biogen’s ability to generate substantial profits.
Additionally, while the growth of Leqembi has been modest, Biogen’s strategic focus on this product indicates potential for future expansion. The company’s financial outlook for 2025 remains stable despite potential external challenges, such as tariffs, due to its robust U.S. manufacturing operations and global inventory positions. These factors collectively contribute to Minter’s confidence in Biogen’s stock, justifying the Buy rating.
According to TipRanks, Minter is a 3-star analyst with an average return of 2.5% and a 42.69% success rate. Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Arcturus Therapeutics, and Verve Therapeutics.
In another report released on April 29, Truist Financial also reiterated a Buy rating on the stock with a $199.00 price target.