Biogen : to Report First Quarter 2026 Financial Results April 29, 2026
Biogen Inc. announced that it will report its first quarter 2026 financial results on Wednesday, April 29, 2026, before the financial markets open. Following the release, the company will host a live webcast with management at 8:00 a.m. ET to discuss the results. The webcast will be accessible through the investors section of Biogen's website, and an archived version will be available for 90 days.
Biogen Paid a 140% Premium for Apellis. Was the $5.6B Deal Worth It?
Biogen acquired Apellis for $5.6 billion, representing a 140% premium, a deal met with skepticism from the market due to Apellis's flagship drug SYFOVRE experiencing a revenue decline. While SYFOVRE faces challenges, the acquisition's strategic value is bolstered by EMPAVELI, approved for rare kidney diseases, and the unpriced optionality of felzartamab, a drug in Phase 3 trials for kidney diseases. The deal was structured to be accretive to non-GAAP diluted EPS starting in 2027, with the long-term success hinging on EMPAVELI's ramp-up and a successful felzartamab readout.
7 New 4-Star Stocks This Week
This article identifies seven US-listed stocks newly rated as 4-star "undervalued" by Morningstar, based on their stock prices falling below their fair value estimates. Key companies like T-Mobile and Qualcomm are highlighted among these new additions. The article explains Morningstar's rating methodology and provides detailed metrics, including fair value and uncertainty ratings, for each of the top five new 4-star stocks.
Amgen scores with trial of on-body injected version of Tepezza in thyroid eye disease
Amgen has found a potential way to boost sales of its thyroid eye disease (TED) treatment, Tepezza, through a new patient-friendly subcutaneous injection administered via an on-body injector (OBI). A phase 3 trial demonstrated that Tepezza OBI achieved comparable efficacy to the current intravenous (IV) formulation, meeting its primary endpoint with a 77% proptosis response rate. This new delivery method aims to increase patient convenience and accessibility for the drug, which has seen stagnant sales despite being the only approved treatment for TED.
Assessing Stoke Therapeutics (STOK) Valuation After Strong 1 Year Shareholder Returns
Stoke Therapeutics (STOK), a clinical-stage biotech focusing on severe genetic diseases, has seen significant 1-year shareholder returns, prompting a valuation assessment. Despite recent short-term share price declines, the company is considered modestly undervalued at $32.74 against a narrative fair value of $34.25, according to analyst consensus. This valuation is based on expectations of future earnings growth and profit margins, though there is a range in analyst price targets, and the valuation could be sensitive to clinical trial outcomes like Phase 3 data for zorevunersen.
Neurocrine Nabs Rare Obesity Disorder Drug in ‘Surprising’ $2.9B Soleno Deal
Neurocrine Biosciences is acquiring Soleno Therapeutics for $2.9 billion, significantly expanding its commercial portfolio in endocrinology and rare diseases. The deal centers on Soleno’s drug Vykat XR, approved in 2025 for extreme hunger in Prader-Willi syndrome patients. Despite the 51% premium offered, analysts at Stifel expressed surprise at Soleno's acceptance, given the strong growth potential predicted for Vykat XR, which had already generated $190.4 million in sales for 1,250 patients in under a year.
Praxis Precision Medicines Announces Positive Results from the EMBRAVE Part A Trial of Elsunersen in Patients with SCN2A Early-Onset Developmental and Epileptic Encephalopathy
Praxis Precision Medicines Inc. announced positive topline results from its EMBRAVE Part A trial for elsunersen, a treatment for pediatric patients with SCN2A early-seizure onset developmental and epileptic encephalopathy (DEE). The trial showed a 77% placebo-adjusted seizure reduction and improvements in sleep, motor function, muscle tone, and attention, with no drug-related serious adverse events. Elsunersen, an antisense oligonucleotide, aims to directly target the underlying cause of SCN2A-DEE and has received multiple regulatory designations.
Biogen (BIIB) Expects $34 Million R&D Charge for Q1 2026
Biogen (BIIB) anticipates a $34 million pre-tax charge in Q1 2026 for acquired in-process research and development, which will reduce GAAP and non-GAAP net income per share by approximately $0.19. The biopharmaceutical company, focused on neurodegenerative and rare diseases, shows mixed financial signals with declining margins but strong financial health and appears modestly undervalued according to valuation metrics.
BioCryst names Sandeep Menon as chief R&D officer
BioCryst Pharmaceuticals has appointed Dr. Sandeep M. Menon as Chief Research and Development Officer. Dr. Menon previously served as Chief Development Officer at Alnylam Pharmaceuticals and held senior R&D leadership roles at Pfizer. This appointment follows BioCryst's strong financial momentum, with a 94% revenue surge and a 28% stock return over the last six months, and analysts predicting continued profitability.
Apellis Stock Soars After Biogen Deal, Momentum Score Surges—Here's What Shareholders Get
Apellis Pharmaceuticals (APLS) shares surged after Biogen announced its acquisition for $41 per share plus potential milestone payments, a 140% premium. This deal expands Biogen's rare-disease pipeline with approved drugs Empaveli and Syfovre, alongside the late-stage kidney treatment felzartamab. Analysts view the acquisition as a strong strategic fit for Biogen, and Soleno Therapeutics (SLNO) is being eyed as a potential next M&A target.
Biogen (NASDAQ: BIIB) projects $34M Q1 2026 in-process R&D expense
Biogen (NASDAQ: BIIB) anticipates a $34 million pre-tax charge for acquired in-process research and development, upfront, and milestone expenses in Q1 2026. This charge is expected to reduce GAAP and non-GAAP net income by approximately $0.19 per diluted share. The company noted that these are preliminary estimates and actual results could differ.
Breast to lung cancers: IDEAYA puts IDE574 into human testing
IDEAYA Biosciences announced the first patient enrolled in its Phase 1 trial for IDE574, a potential first-in-class dual inhibitor of KAT6 and KAT7. This oral therapy targets solid tumors including breast, prostate, colorectal, and lung cancer, aiming for monotherapy efficacy and durable anti-tumor responses. Preclinical data show high potency and selectivity, with further details to be presented at AACR 2026.
Biotech layoff pick back up as 14 companies cut 745 jobs in Q1
In the first quarter of 2026, 14 biotech companies announced layoffs, resulting in 745 job cuts. This number marks an increase from the previous quarter, which saw 476 workers lose their jobs. Companies such as Tessera, Vertex, and Takeda were among those implementing cuts.
TG Therapeutics, Inc. (NASDAQ:TGTX) Receives Consensus Recommendation of "Moderate Buy" from Analysts
TG Therapeutics, Inc. (NASDAQ:TGTX) has received a "Moderate Buy" consensus recommendation from six research firms, with an average 12-month price target of $50.00. The company recently reported a Q3 EPS of $0.14, missing estimates, but revenue of $192.57 million was in line with expectations and up 78% year-over-year. Institutional investors hold approximately 58.58% of the stock.
Biogen’s Apellis Deal Reshapes Growth Outlook And Valuation Story
Biogen (NasdaqGS:BIIB) has agreed to acquire Apellis Pharmaceuticals for $5.6 billion in an all-cash deal, adding two commercial medicines, Empaveli and Syfovre, and nephrology expertise to its immunology and rare disease portfolio. This acquisition marks a strategic shift for Biogen beyond its neurology focus, aiming to broaden its commercial offerings and contribute to earnings starting in 2027. Investors will be monitoring the integration process and the financial implications of this acquisition, particularly given Biogen's mixed share performance in recent years.
DocGo Inc. (NASDAQ:DCGO) Given Average Rating of "Hold" by Brokerages
DocGo Inc. (NASDAQ:DCGO) has received an average "Hold" rating from seven brokerage firms, with an average 12-month price target of $2.375. The company's shares are currently trading around $0.57, below its 50-day and 200-day moving averages. Institutional investors and hedge funds own approximately 56.44% of the company, with several firms recently initiating or increasing their positions.
15,051 Shares in Biogen Inc. $BIIB Bought by Element Squared LLC
Element Squared LLC recently acquired 15,051 shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, a stake valued at approximately $2.65 million, making it their 15th largest holding. Biogen surpassed earnings expectations with an EPS of $1.99 against an estimated $1.61, though revenue decreased by 7.2% year-over-year. Analysts currently hold a "Hold" rating on Biogen stock with an average price target of $208.31.
Analysts Offer Insights on Healthcare Companies: Boston Scientific (BSX) and Alto Neuroscience, Inc. (ANRO)
This article highlights bullish analyst ratings for two healthcare companies: Boston Scientific (BSX) and Alto Neuroscience, Inc. (ANRO). Jefferies maintained a Buy rating on Boston Scientific with a $110.00 price target, and a Strong Buy consensus, while Alto Neuroscience also received a maintained Buy rating from Jefferies with a $35.00 price target, backed by a Strong Buy consensus. The article features insights from analysts Matthew Taylor and Andrew Tsai, noting their success rates and average returns.
Is It Too Late To Consider Nanobiotix (ENXTPA:NANO) After Its 7x One Year Surge?
Nanobiotix, a biotechnology company focused on cancer treatments, has seen a significant 7x surge in its stock price over the last year. Despite this rapid increase, a Discounted Cash Flow (DCF) analysis suggests the stock might be undervalued by 54.8%, estimating its intrinsic value at €60.60 per share compared to its current price of €27.40. However, its high Price/Sales (P/S) ratio of 40.75x, significantly above the industry average, indicates it may be overvalued by this metric.
Biogen (NASDAQ: BIIB) plans tender offer to acquire Apellis (APLS); materials pending
Biogen's subsidiary, Aspen Purchaser Sub, Inc., has announced its plan to launch a tender offer to acquire all outstanding shares of Apellis Pharmaceuticals (APLS) under an Agreement and Plan of Merger dated March 31, 2026. This pre-commencement communication, filed as an SC TO-C form, indicates that the formal tender offer has not yet begun and advises Apellis shareholders to await and carefully review the forthcoming offer materials on Schedule TO and the solicitation/recommendation statement on Schedule 14D-9. The filing does not disclose the terms or pricing of the tender offer, which will be detailed in subsequent documents.
Biogen (BIIB) CAO Sean Godbout nets shares from RSU vesting and tax withholding
Biogen's Chief Accounting Officer, Sean Godbout, exercised 181 restricted stock units (RSUs) into common stock on April 1, 2026, as part of a scheduled vesting event. After 54 shares were withheld for tax obligations at $183.78 per share, Godbout's direct holdings increased by a net of 127 shares, bringing his total to approximately 1,341.6667 Biogen common shares. This transaction is characterized as routine equity vesting and tax-withholding, not open-market trading.
Argenx SE stock: Biotech powerhouse or high-risk bet?
Argenx SE specializes in autoimmune disease treatments, with its lead product Vyvgart gaining market traction and strong financial performance. The company's innovative antibody platform positions it for potential long-term growth, attracting investor interest and favorable analyst ratings despite the inherent volatility and competitive risks in the biotech sector. Investors should weigh its pipeline potential and strong market position against risks like clinical trial failures and competition.
Biogen to acquire Apellis in $5.6 billion deal
Biogen has announced its intention to acquire Apellis Pharmaceuticals for approximately $5.6 billion, a move that will significantly expand Biogen's portfolio in complement-mediated indications, including geographic atrophy (GA) and rare renal disorders. The acquisition centers on Apellis's pegcetacoplan-based therapies, notably SYFOVRE for GA secondary to AMD and EMPAVELI for hematologic and renal conditions, bringing C3 inhibition across these therapeutic areas. While SYFOVRE has shown success in slowing GA lesion growth, long-term visual acuity benefits and postmarketing safety signals such as intraocular inflammation and rare occlusive retinal vasculitis are ongoing considerations.
Multiple System Atrophy Market: High-Growth Opportunities for Investors to 2034 – DelveInsight | Ionis Pharma, Biohaven Pharma, Lundbeck A/S, Alterity Therapeutics, Theravance Biopharma, Brain Neuro
The Multiple System Atrophy (MSA) market is projected for significant growth, from USD 44 million in 2025 to USD 1,753 million by 2034, driven by advancements in therapies from companies like Alterity Therapeutics, Ionis Pharmaceuticals, and Biohaven Pharmaceuticals. The US currently holds the largest market share, with Germany leading in EU4 and the UK. The report highlights upcoming therapies and stresses the increasing prevalence and awareness of this rare neurodegenerative disorder as key market drivers.
Nisa Investment Advisors LLC Sells 9,121 Shares of Biogen Inc. $BIIB
Nisa Investment Advisors LLC reduced its stake in Biogen Inc. by 19.2% in the fourth quarter, selling 9,121 shares and bringing its total holdings to 38,435 shares valued at $6.76 million. Despite some recent analyst upgrades and Biogen beating quarterly EPS estimates, the stock's consensus rating remains a "Hold" with a target price of $208.31. The company's proposed $5.6 billion acquisition of Apellis has generated mixed market reactions and legal scrutiny, contributing to investor caution.
Comparing Apellis Pharmaceuticals With Industry Competitors In Biotechnology Industry
This article compares Apellis Pharmaceuticals (NASDAQ: APLS) with its biotechnology industry peers, analyzing financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. While Apellis shows potential undervaluation based on its P/S ratio, other indicators suggest overvaluation and weaker financial performance, including a high debt-to-equity ratio, compared to its competitors. The analysis aims to provide investors with insights into the company's standing within the competitive biotechnology sector.
IPSC Therapy Market Booming with Rapid Growth Through 2033 | Fate Therapeutics • Bluebird Bio • Celyad
Coherent Market Insights has published a report titled "iPSC Therapy Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2026-2033." The report offers an in-depth analysis of market competition, geographic distribution, and growth potential, covering industry performance, success factors, risk assessment, and financial details. It aims to provide comprehensive insights for entrepreneurs, investors, researchers, and business strategists in the dynamic iPSC Therapy Market.
VKTX Stock Rises After-Hours: CNBC Flags Viking As Likely Buyout Target This Year As Big Pharma Hunts Next GLP-1 Winner
Viking Therapeutics (VKTX) stock rose over 2% after CNBC's Fast Money suggested it could be a buyout target this year as big pharma companies compete in the rapidly expanding GLP-1 obesity market. Traders noted that acquisitions are a primary strategy for drugmakers to secure advanced weight-loss therapy pipelines, with Viking's experimental obesity therapy VK2735 advancing through Phase 3 trials and planned late-stage testing for its oral formulation. Investor sentiment on Stocktwits for VKTX has shifted to 'neutral' from 'bullish' amidst a significant increase in message volume.
Stephen Sherwin, M.D., Joins Verastem Board of Directors
Verastem, Inc., a clinical-stage biopharmaceutical company, announced the appointment of Stephen Sherwin, M.D., to its Board of Directors. Dr. Sherwin brings extensive biopharmaceutical and drug development expertise, which will be crucial as Verastem advances its cancer stem cell therapies, including a Phase 1/2 trial for ovarian cancer and a planned pivotal trial for mesothelioma. He expressed enthusiasm for Verastem's innovative approach and its potential to improve patient outcomes for difficult-to-treat cancers.
Onconetix (STU:J4T1) Cyclically Adjusted Price-to-FCF : (As of Apr. 02, 2026)
This article explains the concept of Cyclically Adjusted Price-to-FCF (CAPFCF) as applied to Onconetix (STU:J4T1). It highlights that due to insufficient historical data, GuruFocus cannot calculate the CAPFCF for Onconetix. The article details what CAPFCF is, how it differs from regular Price-to-Free-Cash-Flow, and lists related financial terms.
Why Biohaven (BHVN) Is Up 11.7% After Fully Enrolling Its Phase 2 Obesity Drug Trial
Biohaven (BHVN) saw its stock rise by 11.7% after announcing the completion of enrollment for its Phase 2 obesity drug trial of taldefgrobep alfa. This drug is notable for its potential to reduce fat while increasing lean muscle mass, with topline data expected in the second half of 2026. The full enrollment is a positive catalyst for the company, although Biohaven still faces challenges related to its loss-making status and funding needs.
Hims & Hers Health, Regeneron, Biogen, BioMarin Pharmaceutical, and Moderna Shares Are Falling, What You Need To Know
Shares of Hims & Hers Health, Regeneron, Biogen, BioMarin Pharmaceutical, and Moderna fell after reports suggested the U.S. might impose up to 100% tariffs on imported branded and patented drugs. This potential move targets pharmaceutical companies that have not agreed to lower drug prices in the United States, prompting a significant sell-off in the sector. The article notes that stock market overreactions can create buying opportunities for high-quality stocks.
Biogen Inc. stock underperforms Thursday when compared to competitors
Shares of Biogen Inc. (BIIB) fell 3.50% on Thursday, closing at $177.34, while the broader market saw mixed results with the S&P 500 rising and the Dow Jones Industrial Average falling. The stock's performance placed it 12.39% below its 52-week high achieved on February 6th. This indicates an underperformance relative to some market benchmarks and its recent peak.
FDA approves extended dosing for Regeneron’s EYLEA HD treatment By Investing.com
The FDA has approved extended dosing intervals for Regeneron's EYLEA HD treatment, allowing some patients with wet age-related macular degeneration and diabetic macular edema to receive injections as infrequently as every 20 weeks. This approval is based on 96-week data from the PULSAR and PHOTON trials, showing strong clinical results and dosing flexibility for individual patient response. Regeneron, a $77.25 billion biotechnology company, maintains solid financial footing and its stock is considered undervalued according to InvestingPro analysis.
MNPR Stock Price, Quote & Chart | MONOPAR THERAPEUTICS INC (NASDAQ:MNPR)
This article provides a detailed overview of Monopar Therapeutics Inc (NASDAQ: MNPR) stock, including its current price, performance, key statistics, and technical and fundamental analysis ratings from ChartMill. It also covers earnings, analyst forecasts, financial highlights, ownership details, and a company profile outlining its biopharmaceutical focus on cancer treatments.
Why Biogen Is Paying $5.6B to Buy Apellis Pharma
Biogen is acquiring Apellis Pharmaceuticals for $5.6 billion, a move CEO Chris Viehbacher states will expand Biogen's presence in nephrology and diversify its product pipeline beyond multiple sclerosis. This acquisition builds on Biogen's prior purchase of Human Immunology Biosciences (HI-Bio) and aims to leverage Apellis's existing commercial team in nephrology to support the future launch of HI-Bio's drug, felzartamab. Despite some analyst skepticism regarding the acquisition price and the effectiveness of Apellis's geographic atrophy drug, Syfovre, the deal is expected to contribute over $1.5 billion to Biogen's annual revenue by 2030, with Empaveli seen as a key growth driver.
Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Banque Pictet & Cie SA
Banque Pictet & Cie SA significantly increased its stake in Vertex Pharmaceuticals (VRTX) by 174.6% in Q4, acquiring an additional 15,470 shares. This move brings their total holdings to 24,328 shares, valued at approximately $11.03 million. Despite substantial insider selling from executives, analysts largely maintain a "Moderate Buy" rating for VRTX, with an average target price of $554.30.
Apellis Pharmaceuticals (APLS) Moves 135.4% Higher: Will This Strength Last?
Apellis Pharmaceuticals (APLS) saw its shares surge 135.4% after Biogen announced a $5.6 billion acquisition deal, representing an 86% premium and additional contingent payments tied to Syfovre sales. Despite the immediate stock jump, a negative trend in earnings estimate revisions and a Zacks Rank #3 (Hold) suggest investors should monitor future performance. The acquisition highlights the strong commercial potential of Apellis's drugs, Empaveli and Syfovre.
Biogen Inc. (BIIB) Expected to Beat Earnings Estimates: Can the Stock Move Higher?
This article discusses Biogen Inc.'s upcoming earnings report, noting that the company is expected to surpass analyst estimates. It highlights the Zacks Consensus Estimate for EPS and revenue, suggesting that a positive surprise could lead to an increase in the stock price. The piece also points out Biogen's solid earnings surprise history, which further supports the potential for a beat.
Biogen, on the heels of a $5.6B buyout, turns its sights to early-stage assets
Biogen recently acquired Apellis Pharmaceuticals for $5.6 billion, adding two commercial immune system-regulating products, Syfovre and Empaveli, and nephrology expertise to its portfolio. Despite this large acquisition, Biogen's CFO, Robin Kramer, stated the company remains in a strong financial position to pursue early-stage assets in other priority research areas. The deal is expected to contribute to positive cash flow and help optimize debt leverage ratios by the end of 2027, freeing up capacity for further strategic initiatives.
CNS Pharmaceuticals (NASDAQ: CNSP) pivots to neurology and oncology amid going concern risk
CNS Pharmaceuticals (NASDAQ: CNSP) is undergoing a strategic pivot, shifting its focus from solely glioblastoma to building an in-licensed pipeline in neurology and oncology. This change follows the Phase 2 trial failure of its legacy asset Berubicin to demonstrate superiority over lomustine in overall survival. The company faces a going concern risk, with cash flow projections indicating it can fund operations only into the third quarter of 2026, necessitating additional capital.
Big Drug Companies Hunting for Deals Are Lowering Their Sights
Big pharmaceutical companies are taking a more conservative approach to mergers and acquisitions, with most deals this year falling between $1 billion and $10 billion. This indicates a shift from previous periods when drugmakers frequently spent tens of billions on acquisitions. The trend suggests a "tightfisted approach" to dealmaking in the current environment.
Oppenheimer Raises Biogen (BIIB) Price Target to $275, Maintains Outperform Rating | BIIB Stock News
Oppenheimer has increased its price target for Biogen (BIIB) to $275 from $250, while maintaining an "Outperform" rating, indicating a strong positive outlook. This update follows a period of diverse analyst opinions and price target adjustments for Biogen. The company focuses on neurodegenerative and rare diseases, with its multiple sclerosis franchise being the largest revenue generator.
Prothena Corp plc Stock: Clinical Milestones and Strategic Focus in Biotechnology Drive Investor Int
Prothena Corp plc, a NASDAQ-listed biotech firm, is gaining investor interest due to its advancements in neurodegenerative disease treatments, strategic partnerships, and clinical milestones. The company focuses on protein misfolding disorders, leveraging proprietary technologies and collaborations with major players like Roche and Novo Nordisk. Progress in its pipeline, including birtamimab for AL amyloidosis and coramitug for neurodegenerative conditions, demonstrates its potential for high returns for North American investors while acknowledging inherent risks in biotech investing.
FDA Approves Higher-Dose Regimen of Nusinersen for Spinal Muscular Atrophy
The FDA has approved a new, higher-dose regimen of nusinersen (Spinraza; Biogen) for spinal muscular atrophy (SMA), which clinical data show increases drug concentrations in the cerebrospinal fluid and significantly improves motor function outcomes compared to standard dosing. This expanded dosing option aims to enhance efficacy and maintain the therapy's relevance in a competitive treatment landscape. Pharmacists will play a critical role in administration, monitoring, and patient counseling for this updated regimen.
Biogen Enters $5.6 Billion Agreement to Acquire Apellis Pharmaceuticals
Biogen has entered a definitive agreement to acquire Apellis Pharmaceuticals for approximately $5.6 billion in cash. This acquisition will add two commercialized complement therapies, Syfovre and Empaveli, to Biogen's immunology and rare disease portfolio, and expand its presence in nephrology. The deal, expected to close in Q2 2026, aims to strengthen Biogen's growth outlook and leverage Apellis' expertise for its own felzartamab program.
Tiziana Life Sciences reports positive preclinical findings for intranasal anti-CD3 therapy in brain aging
Tiziana Life Sciences announced promising preclinical data for its intranasal foralumab therapy, suggesting it could combat neuroinflammation and cognitive decline associated with aging. The therapy reduced microglia activation, increased neurogenesis in the hippocampus, and lessened cellular senescence in preclinical models. These findings reinforce the therapy's mechanism of stimulating regulatory T cells to alleviate neuroinflammation, with clinical trials currently underway for various neurological conditions.
Biogen to Acquire Apellis for $5.6B to Strengthen Immunology Portfolio
Biogen announced a definitive agreement to acquire Apellis Pharmaceuticals for approximately $5.6 billion, offering $41 per share in cash plus a contingent value right. This acquisition aims to significantly strengthen Biogen's immunology and rare disease portfolio by adding Empaveli and Syfovre, two commercialized therapies expected to boost Biogen's revenue and expand its market presence. The deal is projected to be accretive to Biogen's earnings per share starting in 2027 and provides Apellis with greater resources for therapy adoption and pipeline advancement.
Biopharma M&A Heats Up, Rare Diseases Win Three Approvals, Wave Crashes
The biopharma sector experienced significant M&A activity with Biogen, Eli Lilly, Merck, and Novartis collectively spending over $20 billion on acquisitions. Rare disease therapies saw three new FDA approvals for treatments from Denali Therapeutics, Rocket Pharmaceuticals, and Biogen. Meanwhile, Wave Life Sciences' stock value plummeted after its obesity candidate failed to impress investors in a Phase 1 trial.
Biogen stock price target raised to $245 by Canaccord on Apellis deal
Canaccord has increased its price target for Biogen Inc. (NASDAQ:BIIB) shares to $245 from $230, maintaining a Buy rating after Biogen announced the acquisition of Apellis Pharmaceuticals. This acquisition, valued at $5.6 billion, is expected to add significant value to Biogen's revenue, bringing in two commercial products and expanding its portfolio into rare kidney diseases and ophthalmology. Analysts from multiple firms have weighed in, mostly reiterating positive ratings and highlighting the strategic shift for Biogen.
