Biogen (BIIB) Stock: $270 Target And Outperform Rating

By Amit Chowdhry ● Aug 3, 2022
  • The shares of Biogen (BIIB) recently received a $270 price target from Cowen. These are the details.

The shares of Biogen (BIIB) recently received a $270 price target from Cowen. And Cowen analyst Phil Nadeau is maintaining an “Outperform” rating on the shares.

Nadeau adjusted the rating while noting that with its key franchises in decline, lecanemab’s success is considered to be necessary to return the company to long-term growth. 

And Nadeau pointed out that lecanemab’s BLA has a PDUFA date of January 6, 2023, and its Ph. III data are on track for fall 2022 but the potential for Tysabri biosimilars next year is why this is the new target price.