Needham downgraded Biogen (BIIB) to Hold from Buy without a price target The firm does not see a meaningful source of upside for the shares over the next 12 months. Feedback from physician checks and Needham’s recent expert call suggests Leqembi growth will “remain a slow grind,” the analyst tells investors in a research note. As a result, the firm lowered Leqembi estimates and is now below consensus for 2025 and 2026. Biogen’s revenues are unlikely to return to growth until 2026 as new product launches ramp up enough to offset the declining base business, contends Needham.
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Read More on BIIB:
- Biogen downgraded to Hold from Buy at Needham
- Biogen price target raised to $300 from $294 at Baird
- Wolfe starts Biogen at Peer Perform, sees limited downside risk
- Biogen initiated with a Peer Perform at Wolfe Research
- Raymond James sees EU Leqembi uptake as more modest for Biogen than in U.S.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
