BIIB Biogen Stock Forecast: Biogen soared by 40% after its Alzheimer’s drug success.

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

Stock name 5 days 1 month YTD
BIIB +40% +40.3% +13.3%
NASDAQ +0% -2.3% -13.6%

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

YouTube video

BIIB Stock Forecast: Price target

Target
Overall $320
BAIRD$340
BMO Capital$360
Mizuho$270
RBC Capital$321
Piper Sandler$280
Wills Fargo$350

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

Trend
OverallPartially Positive
1. Market’s WisdomPartially Positive
VolumeLower
Performance vs NASDAQ (Last 5 days)Higher
TechnicalBuy
2. Crowd’s WisdomNeutral
Google SearchLower
Social Media SentimentHigher

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.

Bommu Vaishnavi

SAVA Stock Forecast: Sava Falls on Biogen’s Alzheimer Drug Testing Success

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.



Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.