Biogen: Jefferies maintains buy rating
(CercleFinance.com) - Jefferies is maintaining its "buy" rating on Biogen shares, with an unchanged price target of 300 dollars, reflecting nearly 47% upside potential.
The analyst says that expectations are quite low regarding Phase III data that is to be released in the coming weeks on lecanemab in Alzheimer's disease.
Jefferies estimates that the chances of obtaining statistically significant results are over 35% (the consensus is even more pessimistic, at 25%), which could bring the share price to 275 dollars, according to the broker, compared to 165-175 dollars in the event of a negative result.
While the stock is currently trading at above 200 dollars, upside potential appears to exceed downside potential, the broker says, which therefore sees Biogen as "an attractive stock".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The analyst says that expectations are quite low regarding Phase III data that is to be released in the coming weeks on lecanemab in Alzheimer's disease.
Jefferies estimates that the chances of obtaining statistically significant results are over 35% (the consensus is even more pessimistic, at 25%), which could bring the share price to 275 dollars, according to the broker, compared to 165-175 dollars in the event of a negative result.
While the stock is currently trading at above 200 dollars, upside potential appears to exceed downside potential, the broker says, which therefore sees Biogen as "an attractive stock".
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.