From None: 2024-11-18 12:46:00

Needham analysts downgraded Biogen (NASDAQ:BIIB) from Buy to Hold due to limited upside potential. Slow growth from new products like Leqembi and a lack of significant pipeline developments were cited. Sales estimates for Leqembi were lowered, with revenue not expected to grow until 2026. The company may see a decline in 2024 and flat performance in 2025.

Biogen’s new product launches were struggling to offset declines in the base business, affecting revenue growth. The near-term pipeline lacked catalysts, with only Litifilimab’s Phase 3 studies in SLE expected to have a modest impact on the stock. Long-term growth potential remained strong, but short-term drivers were lacking, leading to a more cautious outlook.



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