BIIB Biogen Stock Forecast: Biogen soared by 40% after its Alzheimer’s drug success.
BIIB Biogen Stock Forecast: The outlook is partially Positive. The stock is a strong buy. 12 Months Price Target is $320
Latest BIIB Stock Price
Biogen Stock Forecast: Recent Performance
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BIIB Stock Forecast: Latest News
Alzheimer’s drug successful in phase 3 results: Biogen and its partner Eisai have released positive results in the phase 3 clinical trial of “lecanemab” drug which is used in the treatment of early-stage Alzheimer’s disease. The drug works by removing plaque in the brain that is caused by amyloid protein building up in the brain. The data showed that the “lecanemab” treatment has met the primary endpoint.
The stock price has increased by 40%, which is the highest since last year November. The company sales are also expected to increase. They declared that the drug was successful in reducing the cognitive decline in the early stage of Alzheimer’s disease by 27% compared to the placebo, in the trial of around 1800 patients for 18 months. This could be an $8 B opportunity Globally.
BIIB Stock Forecast: Latest Video
BIIB Stock Forecast: Price target
BIIB Stock Forecast: Q2 Results
- Biogen released its Quarter 2 (which ended on June 30, 2022) reports in July.
- Its total revenue was declared as $2589 million, down 6.7% year-over-year.
- Its gross profit was $484 million whereas its net income was $1058 million, up 135.9% year-over-year.
- Its total operating expenses were $ 1198 million, up 5.4% compared to the past quarter, $1136 million.
- Its operating expenses were $907 million, up 80% year-over-year.
- Its EBIT was $907 million, up 41.5% compared to the previous quarter that is $641.7 million.
- Its diluted earnings per share (EPS) is declared as $7.24, which is more than 142.14% compared to the previous year.
BIIB Biogen Stock Price Prediction Today
|1. Market’s Wisdom||Partially Positive|
|Performance vs NASDAQ (Last 5 days)||Higher|
|2. Crowd’s Wisdom||Neutral|
|Social Media Sentiment||Higher|
BIIB Stock Forecast: Latest Tweet
Chart of the Moment: $BIIB Biogen Inc Abnormal stats so far today: 7.2x average volume -3.8σ price move -$1.6bn market cap change.
BIIB Stock Forecast: Conclusion
The success of the lecanemab drug in the phase 3 trials is going to be a game changer for the company and Alzheimer’s disease treatment. There are around 6 million patients with Alzheimer’s disease in the U.S and they are expected to reach 14 million by 2060 which is a 133% increase. So, there is a huge market for this drug and the company is expected to see an increase in its market by a huge number. Analysts gave an average target of $320 and are bullish on the company.
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