Piper Sandler Bullish on Biogen Outlook, Upgrades Stock to Overweight

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Biogen Inc ($NASDAQ:BIIB). is a multinational biopharmaceutical company based in the United States. It is primarily focused on developing treatments for neurological and neurodegenerative diseases like Alzheimer’s and Parkinson’s. Recently, Piper Sandler upgraded Biogen to an overweight rating, citing the promising outlook for their drug Leqembi. Leqembi is a medication designed to treat amyotrophic lateral sclerosis (ALS). Piper Sandler believes that the drug may have a positive impact on Biogen’s share price due to the high demand for treatments for ALS. The company also has other products in its pipeline, such as aducanumab, which is being studied as a potential Alzheimer’s disease treatment. This drug is currently in Phase 3 clinical trials and has been shown to delay cognitive declines in those with mild disease.

Additionally, their Spinraza treatment is becoming more popular as it has been proven to improve the lives of patients with spinal muscular atrophy. Piper Sandler’s upgrade of Biogen’s stock reflects their optimism in the potential of their current and future products. With the combination of their existing treatments and promising new ones in the works, Biogen could be well positioned to capitalize on the future of healthcare. Additionally, their strong financial performance and commitment to research and development could indicate a promising future for the company. With their existing treatments and promising outlook for new products like Leqembi and aducanumab, Biogen could be well positioned to provide solutions to some of the most prevalent illnesses.

Market Price

Piper Sandler recently expressed a bullish outlook on BIOGEN INC, giving the stock an upgrade from neutral to overweight. On Monday, BIOGEN INC’s stock opened at $294.0 and closed at $292.2, indicating a 1.4% increase from its prior closing price of $288.1. In addition to these drugs, BIOGEN INC is also researching other treatments such as aducanumab and opicinumab, which could benefit from the company’s strong presence in the rare disorder space. This, along with Piper Sandler’s positive view of the biotechnology company, makes it an attractive investment for those seeking long-term growth. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Biogen Inc are shown below. More…

Analysis

At GoodWhale, we are dedicated to helping investors make informed decisions about their investments. As part of this mission, we have conducted an analysis of BIOGEN INC‘s financials. Our Risk Rating for BIOGEN INC is medium, which means that investors should consider taking a closer look at their financial and business aspects before investing. During our analysis, we detected 2 risk warnings in the BIOGEN INC’s income statement and balance sheet. If you would like to take a closer look at these risk warnings and make an informed decision, you can register on goodwhale.com to access more detailed information. More…

Peers

In the biotechnology industry, Biogen Inc is up against some stiff competition from the likes of Eli Lilly and Co, Gilead Sciences Inc, and Intra-Cellular Therapies Inc. All three companies are leaders in the development of innovative treatments and therapies for a variety of diseases and disorders. Biogen Inc has developed a reputation for being a cutting-edge company that is constantly striving to bring new and improved treatments to market. This commitment to innovation has allowed Biogen Inc to maintain a strong position in the industry, despite the challenges posed by its competitors.

– Eli Lilly and Co ($NYSE:LLY)

Eli Lilly and Co is a global pharmaceutical company that develops and markets prescription medicines and vaccines for various medical conditions. The company’s market cap as of 2022 is 316.18B. Its return on equity (ROE) is 45.88%.

Eli Lilly and Co was founded in 1876 and is headquartered in Indianapolis, Indiana, United States. The company operates in more than 140 countries worldwide. Some of its products include treatments for diabetes, cancer, Alzheimer’s disease, and psychiatric disorders.

– Gilead Sciences Inc ($NASDAQ:GILD)

Gilead Sciences Inc is a research-based biopharmaceutical company that discovers, develops and commercialises innovative therapeutics. The company’s mission is to advance the care of patients suffering from life-threatening diseases. Gilead Sciences Inc has a market cap of 83.2B as of 2022 and a Return on Equity of 24.03%. The company’s products include antiviral therapies, treatments for cancer and inflammatory diseases.

– Intra-Cellular Therapies Inc ($NASDAQ:ITCI)

Intra-Cellular Therapies Inc is a clinical stage biopharmaceutical company that focuses on the development of drugs for the treatment of neuropsychiatric disorders. The company’s market cap as of 2022 was 4.47B, and its ROE was -42.76%. The company’s products are in various stages of development, and include candidates for the treatment of schizophrenia, bipolar disorder, and major depressive disorder.

Summary

Piper Sandler has upgraded Biogen Inc. (BIIB) from Neutral to Overweight on the back of a bullish outlook for the company’s drug, Leqembi. Piper Sandler analysts believe that Biogen’s current portfolio of products and pipeline of drugs, including Leqembi, position the company for future success.

Additionally, the company has been able to maintain financial strength through cost savings as well as a strong balance sheet. Looking ahead, investors can expect Biogen to continue to grow its business, driven by the commercial success of its existing medicines and the potential for additional clinical developments. Overall, it is suggested that investors take a long-term view on Biogen Inc. and consider investing in the company if they have not already done so.