Canaccord analyst Sumant Kulkarni noted Biogen’s Leqembi is now fully approved, but the company’s zuranolone is more important in terms of its ability to replenish Biogen’s revenue base at a faster pace if it gains approval and to build a solid neuropsychiatry franchise. We continue to believe zura has a very high chance of approval on/around its action date of 8/5. Canaccord reiterated its Buy rating and $350 price target on Biogen shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BIIB:
- Piper Sandler pharmaceuticals analysts to hold analyst/industry conference call
- Biogen, Eisai’s Alzheimer’s Drug Scores Big With FDA’s Full Approval
- FDA Grants Traditional Approval for LEQEMBI® (lecanemab-irmb) for the Treatment of Alzheimer’s Disease
- Biogen, Eisai win full FDA approval for Alzheimer’s drug Leqembi
- FDA converts Biogen Alzheimer’s treatment to full approval