© Reuters Oppenheimer raises Biogen value goal on rising investor confidence
Oppenheimer raised the value goal on Biogen (NASDAQ:) to $295.00 from $280.00 whereas sustaining an Outperform score.
Analysts highlighted rising investor confidence in Biogen administration with optimistic suggestions on the CEO and CFO, based mostly on the outcomes of a 2,000+ investor survey by Brendan Wooden.
In response to analysts, investor confidence has seen a big uptick since Chris Viehbacher took over as CEO, and it is anticipated to be additional bolstered by latest occasions. These embrace the CHMP’s optimistic opinion for Skyclarys as the primary remedy for Friedreich’s Ataxia within the EU on Dec 15, the deliberate launch of Leqembi in Japan on Dec 20, and the landmark U.S. launch of Zurzuvae for Publish-Partum Despair on Dec 14.
“CFO confidence is especially strong and investors are encouraged by financial progress such as expense optimization including Fit for Growth, R&D portfolio prioritization, capital allocation and other plans to improve BIIB’s financial profile,” commented analysts.
