© Reuters Oppenheimer raises Biogen worth 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 constructive suggestions on the CEO and CFO, primarily based on the outcomes of a 2,000+ investor survey by Brendan Wooden.
In accordance with analysts, investor confidence has seen a major uptick since Chris Viehbacher took over as CEO, and it is anticipated to be additional bolstered by latest occasions. These embrace the CHMP’s constructive 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 Submit-Partum Despair on Dec 14.
“CFO confidence is particularly robust and buyers are inspired by monetary progress comparable to expense optimization together with Match for Development, R&D portfolio prioritization, capital allocation and different plans to enhance BIIB’s monetary profile,” commented analysts.