- The shares of Biogen Inc (NASDAQ: BIIB) have received a price target increase from $260 to $384 by Piper Sandler. These are the details.
The shares of Biogen Inc (NASDAQ: BIIB) have received a price target increase from $260 to $384 by Piper Sandler. And Piper Sandler analyst Christopher Raymond is maintaining a “Neutral” rating on the company shares.
Raymond cited the FDA approval of the company’s Alzheimer’s drug. And Raymond is anticipating worldwide end-user revenue of $8 billion by 2025. By having a “broad label, despite the inconclusive clinical experience,” the revenue trajectory is possible, according to Raymond.
The Alzheimer’s drug Aduhelm makes ups around $145 per share in Raymond’s sum-of-the-parts analysis. While there are concerns among the medical community, this is balanced by a major unmet need represented by Alzheimer’s.
Raymond prefers to be on the sidelines until there is better visibility on the launch progress.
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