TD Cowen analyst Phil Nadeau maintains $Biogen (BIIB.US)$ with a buy rating, and maintains the target price at $275.
According to TipRanks data, the analyst has a success rate of 46.9% and a total average return of 6.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Biogen (BIIB.US)$'s main analysts recently are as follows:
Biogen's approach to counter the decline of its core franchise involves focusing on developing treatments for conditions with a high unmet medical need, despite the challenging nature of these indications. The company's pipeline is perceived to carry a higher clinical risk compared to its major biotech counterparts, which simultaneously offers considerable potential value.
The firm indicated that Biogen's collaborator's successful appeal to the EMA's CHMP for another look at the MAA for a treatment in amyloid-positive early Alzheimer's disease resulted in a favorable recommendation, albeit with an exclusion for a certain genotype. This adjustment is believed to make the proposal more agreeable to the European Commission, with an anticipated approval decision due within 67 days.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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