BUZZ - UBS raises its target price for Biogen due to the catalyst in its late-stage R&D pipeline; stock price rises
路透社2026/10/09 16:16October 9 - ** Shares of pharmaceutical company Biogen (BIIB.O) rose 2.4% to $223.71 ** UBS raised its price target from $240 to $270 and reiterated a "Buy" rating ** Third-quarter revenue is expected to reach $2.69 billion, with earnings per share (EPS) at $2.11, both slightly above market consensus ** Third-quarter sales of Alzheimer's drug Leqembi are predicted to be $200 million, in line with market expectations, and the recently launched subcutaneous formulation is projected to become a key growth driver starting in 2027 ** Biogen is now more optimistic about ophthalmology drug Syfovre than it was at the time of acquiring Apellis (link), and is optimizing its commercialization strategy ** Late-stage clinical data for lupus drug litifilimab due later this year and data on cutaneous lupus erythematosus expected in the first half of 2027 are seen as key catalysts ** Furthermore, late-stage clinical results for kidney drug felzartamab, expected in the first half of 2027, are anticipated to provide further upside, and clinical trials by Eli Lilly (LLY.N) for presymptomatic Alzheimer's may produce positive spillover effects ** Including intraday fluctuations, the stock is up 26.3% year-to-date.
October 9 - ** Shares of pharmaceutical company Biogen (BIIB.O) rose 2.4% to $223.71
** UBS raised its target price from $240 to $270 and reiterated a “Buy” rating
** Third quarter revenue is expected to reach $2.69 billion and earnings per share (EPS) $2.11, both slightly above market consensus
** Leqembi, the Alzheimer’s disease treatment, is expected to generate $200 million in third quarter sales, in line with market consensus, and the recently launched subcutaneous formulation is expected to become a key growth driver starting in 2027
** Noted that Biogen is more optimistic about ophthalmology drug Syfovre than when acquiring Apellis (link), and is optimizing its launch strategy
** Late-stage clinical data for the lupus drug litifilimab coming later this year, as well as data for cutaneous lupus erythematosus in the first half of 2027, will be key catalysts
** In addition, late-stage clinical data for the kidney disease drug felzartamab, to be announced in the first half of 2027, is expected to provide upside, while Eli Lilly (LLY.N)’s clinical trials for asymptomatic Alzheimer’s disease could result in positive spillover effects
** Including intraday volatility, the stock has risen 26.3% year to date
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