- The shares of Biogen Inc (NASDAQ: BIIB) have received a $225 price target from BofA. These are the details.
The shares of Biogen Inc (NASDAQ: BIIB) have received a $225 price target from BofA. And BofA analyst Geoff Meacham is maintaining a “Neutral” rating on the shares following Eisai’s recent decision to amend the companies’ Alzheimer’s collaboration, which Meacham said was a surprise to the market before CMS’ final NCD decision due on April 11.
And after revising the model to reflect the update and Eisai willing to forgo its share of Aduhelm’s profits in exchange to hold off for further investments, and also using a decision-tree analysis, Meacham derived a present value of $170 million for Aduhelm.
However, Meacham pointed out that assuming the final NCD resembles the draft his model of the value of Aduhelm would fall to negative $67 million. And the updated model also adds lecanemab with a 40% estimate for its odds of success.
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