Long-term Prospects for Biogen’s (BIIB) Aduhelm Remain Key Question - Analyst

Biogen (BIIB) PT Lowered to $390 at Oppenheimer

October 20, 2021 6:05 PM EDT

Oppenheimer analyst Jay Olson lowered the price target on Biogen (NASDAQ: BIIB) to $390.00 (from $450.00) while maintaining an Outperform rating.

The analyst commented, "Bolstered by a 3Q top- and bottom-line beat, BIIB outlined a number of steps to support the Aduhelm launch but deferred... More

Biogen (BIIB) Stock Edges Higher on Strong Earnings, Sales of New Alzheimer Drug Just $300k

October 20, 2021 9:00 AM EDT

Biogen (NASDAQ: BIIB) stock is up about 1.5% in pre-open Wednesday after the company reported better-than-expected Q3 EPS.

BIIB reported Q3 EPS of $4.77 to beat the analyst estimate of $4.11. Revenue for the quarter came in at $2.78 million versus the consensus estimate of $2.67 million.

As far as full-year guidance is concerned, Biogen projects FY2021 EPS of $18.85-$19.35, versus the consensus of $18.61.... More

Biogen banks on government coverage to restart stalled Alzheimer's drug sales

October 20, 2021 7:07 AM EDT

By Manas Mishra and Dania Nadeem

(Reuters) -Biogen Inc is pinning its hopes on a decision on U.S. government coverage of its Alzheimer's disease drug next year to help drive up its usage, after a big miss on quarterly sales of the much-awaited treatment.

The company recorded $300,000 in sales of Aduhelm in the third quarter, compared with the $10.79 million mean estimate from 16 analysts, according to Refinitiv data.

Only 120 sites across the United States are... More

Biogen (BIIB) Tops Q3 EPS by 66c, Updates FY Guidance

October 20, 2021 7:05 AM EDT

Biogen (NASDAQ: BIIB) reported Q3 EPS of $4.77, $0.66 better than the analyst estimate of $4.11. Revenue for the quarter came in at $2.78 million versus the consensus estimate of $2.67 million.

GUIDANCE:

Biogen sees FY2021 EPS of $18.85-$19.35, versus the consensus of $18.61. Biogen sees... More

Biogen (BIIB) PT Lowered to $405 at UBS

October 20, 2021 3:54 AM EDT

UBS analyst Colin Bristow lowered the price target on Biogen (NASDAQ: BIIB) to $405.00 (from $442.00) while maintaining a Buy rating.... More

Biogen (BIIB) October weekly 267 straddle priced for a move of +/- 4% into the expected release of quarter results

October 19, 2021 2:37 PM EDT

Biogen (NASDAQ: BIIB) October weekly 267 straddle priced for a move of +/- 4% into the expected release of quarter results before the bell on October 20.

... More

Biogen sales face pressure from slow uptake of Alzhiemer's drug

October 19, 2021 1:55 PM EDT

By Dania Nadeem and Amruta Khandekar

(Reuters) - Biogen Inc's Alzheimer's drug will be of little help to its third-quarter sales, Wall Street analysts said, as the drugmaker faces an uphill task of convincing hospitals and clinics to use the $56,000-a-year treatment and insurers to reimburse it.

Aduhelm in June became the first new treatment for the memory-robbing disease in nearly 20 years, boosting hopes the treatment would cushion the blow of diving sales of Biogen's mainstay multiple sclerosis drug, Tecfidera, due to rising competition.

But the acceptance of Aduhelm has been limited due to doubts... More

Biogen (BIIB) call put ratio 1 call to 1.4 puts into quarter results and outlook

October 19, 2021 10:02 AM EDT

Biogen (NASDAQ: BIIB) October weekly call option implied volatility is at 65, November is at 39; compared to its 52-week range of 32 to 121 into the expected release of quarter results before the bell on October 20. Call put ratio 1 call to 1.4 puts.

... More

SAGE Therapeutics (SAGE), Biogen (BIIB) to Submit NDA for Zuranolone to FDA in Second Half of 2022 with Rolling Submission Expected to Start in Early 2022

October 19, 2021 6:33 AM EDT

Sage Therapeutics, Inc. (Nasdaq: SAGE) and Biogen Inc. (Nasdaq: BIIB) today announced their plan to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for zuranolone, an investigational two-week, once-daily therapeutic in the second half of 2022. The planned initial submission package will seek approval of zuranolone for the treatment of major depressive disorder (MDD) and an additional filing for postpartum depression (PPD) is anticipated in the first half of 2023. The decision to submit the application follows recent discussions with the FDA,... More

Biogen (BIIB) PT Lowered to $398 at Needham & Company

October 19, 2021 6:07 AM EDT

Needham & Company analyst Ami Fadia lowered the price target on Biogen (NASDAQ: BIIB) to $398.00 (from $400.00) while maintaining a Buy rating.

The analyst commented, "Following our expert call on the Alzheimer's disease market, we continue to believe that the most likely outcome of... More

Biogen (BIIB) Reports Topline Phase 3 Results of Tofersen and its Open-Label Extension in SOD1-ALS

October 18, 2021 5:26 AM EDT

Biogen Inc. (Nasdaq: BIIB) today announced topline results from its pivotal Phase 3 VALOR study of tofersen (BIIB067), an investigational antisense drug being evaluated for people with superoxide dismutase 1 (SOD1) amyotrophic lateral sclerosis (ALS). While tofersen did not meet the primary endpoint of change from baseline to week 28 in the Revised Amyotrophic Lateral Sclerosis Functional Rating Scale (ALSFRS-R), trends favoring tofersen were seen across multiple secondary and... More