Jefferies Initiates Coverage on Biogen Inc. (BIIB) with Buy Rating and $190 PT

With significant upside potential, Biogen Inc. (NASDAQ:BIIB) secures a spot on our list of the 12 Best Widow and Orphan Stocks to Buy According to Analysts.

Jefferies began covering Biogen Inc. (NASDAQ:BIIB) on September 26 with a Buy rating and a price target of $190. The firm argued that despite the company’s significant strategic and regulatory advancements, investor expectations remain abnormally low.

However, following a series of developments, including Biogen Inc. (NASDAQ:BIIB)’s FDA Complete Response Letter for its high-dose nusinersen regimen for spinal muscular atrophy, its $85 million acquisition of Alcyone Therapeutics to expand its neurological device pipeline, and the European Commission’s approval of ZURZUVAE as the first oral postpartum depression therapy, Jefferies took a positive stance.

These events were cited as proof of the base business’s “continued resiliency” and highlighted an undervalued pipeline. The firm also mentioned the potential for Biogen Inc. (NASDAQ:BIIB)’s late-stage studies in depression and lupus, as well as the acceleration of sales potential for its Alzheimer’s medication Leqembi through a planned at-home subcutaneous formulation.

Globally, Biogen Inc. (NASDAQ:BIIB) discovers, develops, manufactures, and distributes treatments for neurological and neurodegenerative illnesses. It is one of the Best Widow and Orphan Stocks.

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