H.C. Wainwright Affirms Biogen Inc. (BIIB) Buy Rating on Lupus Franchise Prospects

Biogen Inc. (NASDAQ:BIIB) is one of the best defensive stocks to buy, according to Steve Cohen. On September 5, H.C. Wainwright reiterated a ‘Buy’ rating on the stock and a $194 price target. The positive stance echoes the research firm’s confidence about the company’s promising lupus franchise.

According to H.C. Wainwright, the lupus treatments litifilimab and dapirolizumab pegol are compelling late-stage assets that underscore the company’s long-term prospects. That’s because they have minimal direct competition in their respective mechanisms of action. Dapirolizumab pegol has already achieved positive Phase 3 results and is progressing into a confirmatory trial (PHOENYCS-FLY), expected to be completed in 2027 or early 2028.

Even as Biogen makes progress on the lupus treatment, it has already submitted a new Alzheimer’s treatment, LEQEMBI IQLIK, to the US Food and Drug Administration. The drug has already been granted fast-track status.

Biogen Inc. (NASDAQ:BIIB) is a global biotechnology company that pioneers innovative science to develop and deliver therapies for complex and devastating diseases, particularly in neurology, neuropsychiatry, specialized immunology, and rare diseases. The company is known for creating first-in-class treatments, including breakthrough medicines for multiple sclerosis (MS).

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Disclosure: None. This article is originally published at Insider Monkey.