Biogen (BIIB) Stock: $238 Price Target And Market Perform Rating

By Amit Chowdhry ● Feb 21, 2022
  • The shares of Biogen (NASDAQ: BIIB) have received a $238 price target from BMO Capital. These are the details.

The shares of Biogen (NASDAQ: BIIB) have received a $238 price target from BMO Capital. And BMO Capital analyst Evan David Seigerman reiterated a “Market Perform” rating on the shares.

Seigerman adjusted the rating following a data readout from the CORAL trial.

“Zuranolone CORAL results looks approvable in MDD. Biogen and Sage announced results from the Phase 3 CORAL study evaluating zuranolone in MDD, meeting both primary and secondary endpoints with benign safety,” wrote Seigerman in a research note. “We expect rolling submission to follow in 2H. If approved, we think zuranolone will likely get used to help accelerate treatment for MDD patients then transition into a longer-treatment. However, this incremental positive does not change the challenging narrative around Biogen.”

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