Why Biogen's June 7 Aducanumab PDUFA Date Is A High-Risk, High-Reward Catalyst
Portfolio Pulse from Shanthi Rexaline
Biogen's Alzheimer's drug aducanumab faces a critical FDA decision on June 7, with potential for significant stock movement. Oppenheimer analyst Jay Olson rates Biogen as Outperform with a $325 price target, highlighting the high-risk, high-reward nature of the event.
May 19, 2021 | 3:08 pm
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Biogen's aducanumab faces a crucial FDA decision on June 7, with potential for a 21% stock increase on approval or an 11% decrease on rejection. Analyst Jay Olson rates Biogen as Outperform with a $325 price target, emphasizing the high-risk, high-reward nature of this event.
The FDA decision on aducanumab is a binary event with significant implications for Biogen's stock price. Approval could lead to a 21% increase, while rejection could result in an 11% decrease. The analyst's Outperform rating and $325 price target reflect the potential upside.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100