William Blair analyst Myles Minter has maintained their bullish stance on BIIB stock, giving a Buy rating on April 21.
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Myles Minter’s rating is based on several strategic developments and financial adjustments at Biogen. The collaboration with Stoke Therapeutics to develop and commercialize zorevunersen marks a significant step, allowing Biogen to expand its portfolio with minimal upfront costs. This deal, along with the decision to separate IPR&D expenses from R&D expenses, reflects Biogen’s strategic focus on growth and clarity in financial reporting.
Additionally, the initiation of Phase III studies for felzartamab and the associated milestone payments indicate a robust pipeline that could drive future growth. Despite a slight reduction in U.S. revenue projections for Skyclarys due to Medicare Part D restructuring, Biogen’s management has accounted for these impacts, demonstrating proactive financial management. These factors collectively underpin Minter’s confidence in Biogen’s potential, justifying the Buy rating.
In another report released on April 21, RBC Capital also maintained a Buy rating on the stock with a $225.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BIIB in relation to earlier this year.