Biogen Inc. (NASDAQ:BIIB ) 7th Annual Evercore ISI HealthCONx Healthcare Conference Call December 3, 2024 9:10 AM ET Company Participants Alisha Alaimo - President and Head of North America Michael McDonnell - Chief Financial Officer Conference Call Participants Umer Raffat - Evercore ISI Umer Raffat Okay, thank you guys for joining us. Pleasure to have Biogen Management.
Biogen expects growth of its keenly watched Alzheimer's disease drug, Leqembi, to see a "linear trend" in the United States in the near term, a company executive said at a healthcare conference on Tuesday.
On Tuesday, UCB SA UCBJY UCBJF and Biogen Inc. BIIB presented detailed results from the Phase 3 PHOENYCS GO study evaluating dapirolizumab pegol (DZP) for systemic lupus erythematosus.
Needham downgraded Biogen Inc BIIB, citing limited catalysts for the company over the next year.
The CHMP renders a positive opinion recommending approval for BIIB and Eisai's Leqembi for treating early Alzheimer's disease.
Biogen's stock rose 1% Thursday, after Europe's pharmaceutical regulator issued a positive opinion on the Alzheimer's disease drug that the company developed with Japanese partner Eisai — reversing an earlier decision not to approve the drug.
Citi analyst Geoff Meacham initiated coverage of Biogen with a Neutral rating and $190 price target. The company's strategy to offset core franchise erosion has been to develop assets with significant unmet need in very difficult indications, the analyst tells investors in a research note. The firm says Biogen's pipeline still looks to have higher clinical risk overall versus the company's big biotech peers, "but this also conveys significant option value."
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Investors with an interest in Medical - Biomedical and Genetics stocks have likely encountered both Biogen Inc. (BIIB) and Myriad Genetics (MYGN). But which of these two stocks offers value investors a better bang for their buck right now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Biogen (BIIB) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Biogen reported its Q3 earnings yesterday, October 30. Revenue of $2.5bn was reported and non-GAAP EPS of $4.08. Growth was generally flat or declining for many key assets, with the performance of AD drug Leqembi especially underwhelming.