Bond.az - Jefferies reiterated a Buy rating and $210 price target on Biogen Inc. (NASDAQ:BIIB) after positive Phase II Alzheimer's trial data. The stock trades at $204.53, up nearly 70% over the past year.
The firm highlighted BIIB080's 76-week data showing tau reductions and cognitive trends across all doses, especially the lowest dose. Full results will be presented at the Alzheimer's Association International Conference from July 12-15.
Jefferies noted the company's commitment to advance to Phase III is significant given modest efficacy of approved anti-amyloid drugs. The low-dose regimen shows 50-60% tau reduction and 0.5-1.0 placebo-adjusted CDR-SB benefit.
The APLS acquisition supports near-term growth, while pipeline approvals should bolster long-term earnings. Jefferies expects Biogen stock to rise in 2026-27 on franchise resilience or trial success.
