Biogen (BIIB) Stock: $262 Price Target And Buy Rating

By Amit Chowdhry ● Apr 11, 2022
  • The shares of Biogen Inc (NASDAQ: BIIB) have received a $262 price target from Needham. These are the details.

The shares of Biogen Inc (NASDAQ: BIIB) have received a $262 price target from Needham. And Needham analyst Ami Fadia is maintaining a “Buy” rating on the shares.

Fadia adjusted the rating following the CMS release of policy for coverage of Aduhelm in treating Alzheimer’s disease. And while the decision slightly relaxed requirements for types of covered trials, it will also leave Aduhelm’s coverage limited to patients in the 1,000s range, thus significantly limiting its potential. 

Plus Fadia cited some good news in that the CMS has left the door open for broader coverage for other anti-amyloid drugs that obtain approval via an endpoint other than a surrogate endpoint – which bodes well for late-stage drugs with upcoming data readouts like Biogen’s lecanumab. 

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