Why This Biogen Analyst Is Turning Bullish On Alzheimer's Treatment Prospects
Portfolio Pulse from Priya Nigam
Danielle Brill, an analyst at Raymond James, has upgraded Biogen Inc (NASDAQ:BIIB) from Market Perform to Outperform with a price target of $283, citing positive prospects for its Alzheimer's treatments, Leqembi and Skyclarys. Brill expects Leqembi to gain momentum in 2024, especially with the SC formulation, and Skyclarys to continue its strong U.S. launch and expand into the EU next year. The analyst believes Biogen is trading at an unwarranted discount compared to peers and sees it as an attractive long investment for 2024.
December 07, 2023 | 5:18 pm
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Biogen's stock rating has been upgraded to Outperform by Raymond James analyst Danielle Brill, with a price target of $283, due to optimism around its Alzheimer's treatments, Leqembi and Skyclarys.
The upgrade by a reputable analyst based on the potential success of Biogen's Alzheimer's treatments is likely to instill confidence in investors and could lead to a short-term increase in the stock price. The specific mention of easing bottlenecks and anticipated treatment candidates being treated in the next 12 months adds to the positive outlook. Furthermore, the comparison to peers and the mention of an unwarranted discount suggest room for stock price growth.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100