From Financial Modeling Prep: 2024-11-14 07:34:00

Citi analysts initiated coverage on Biogen (NASDAQ:BIIB) with a Neutral rating and a $190 price target. The company faces challenges in legacy franchises but has seen success in high-risk therapeutic areas like Alzheimer’s and ALS.

Biogen’s core revenue drivers, including MS and SMA treatments, have seen declines. The company focuses on Alzheimer’s, ALS, lupus, stroke, and Parkinson’s treatments. Recent successes include Leqembi, Skyclarys, and Zurzuvae.

Biogen’s pipeline is riskier than peers but offers potential upside. Key data expected in the next two years includes results from Alzheimer’s, MS, and Parkinson’s programs, all with considerable clinical risk.

Citi projects Biogen to see average revenue declines of -2% and modest non-GAAP EPS growth of +2% from 2024 to 2026, underperforming peer averages.



Read more at Financial Modeling Prep:: Citi Starts Neutral Coverage on Biogen Stock