Analysts’ Recommendations for Biogen in October 2017
In October 2017, Biogen (BIIB) presented new data that showed earlier initiation of Spinraza therapy could improve motor function results in infants and children with spinal muscular dystrophy (or SMD). The results from the Phase 3 ENDEAR trial supported the safety and efficacy profile of Spinraza.
In the Phase 3 ENDEAR trial in the Hammersmith Infant Neurological Examination (or HINE), infants on Spinraza therapy showed significant differences in motor milestone responders compared to untreated infants with a disease period not more than or equal to 12 weeks.
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In 1H17, Spinraza generated revenues of ~$250.3 million. The growth in sales of Biogen’s Spinraza could boost the stock price of the iShares NASDAQ Biotechnology ETF (IBB). Biogen comprises ~8.4% of IBB’s total portfolio holdings.
Of the 29 analysts covering Biogen (BIIB) in October 2017, six analysts recommended a “strong buy,” 12 analysts recommended a “buy,” and 11 analysts recommended a “hold.” Biogen didn’t receive any “sell” or “strong sell” ratings.
Around 62% of the analysts covering Biogen in October 2017 recommended some form of a “buy” rating. On October 6, Biogen had a consensus 12-month target price of $336.41, which represents an ~3.0% return on investment.
Of the five analysts tracking Syros Pharmaceuticals (SYRS) in October 2017, four suggested a “strong buy.” Four analysts recommended a “buy,” and one analyst recommended a “hold.” On October 6, Syros Pharmaceuticals had a consensus 12-month target price of $28.67, which represents a 72.9% return on investment.
Of the 23 analysts tracking BioMarin Pharmaceutical (BMRN) in October 2017, ~78% of the analysts recommended some form of a “buy” rating. On October 6, BioMarin Pharmaceutical had a consensus 12-month target price of ~$111.67, which represents an ~18.3% return on investment.
Of the 20 analysts tracking Alexion Pharmaceuticals (ALXN) in October 2017, ~85% of the analysts recommended some form of a “buy” rating. On October 6, Alexion Pharmaceuticals had a consensus 12-month target price of $163.45, which represents an ~13.7% return on investment.