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Research

Research Alert: CFRA Keeps Buy Rating On Shares Of Biogen Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our target at $236, 13.8x our new 2027 EPS view, a discount to BIIB's five-year historical forward P/E average of 14.1x. We lower our 2026 EPS view to $15.24 from $16.14 to adjust for the impact from acquired IPR&D. We keep our 2027 EPS view at $17.16. BIIB reported a strong start to 2026, with sales of $2.5B and adjusted EPS of $3.57. We see a successful stabilization of the business after years of decline, due to a 12% Y/Y increase in the growth products portfolio. In our view, during the analyst call, management presented a clear strategic vision centered on the pending $5.6B acquisition of Apellis, expected to close in Q2, which can transform BIIB into a growth company by adding two commercial assets, Syfovre and Empaveli. We think the Apellis deal could bridge a revenue gap until 2028, when the company's late-stage pipeline matures. Via this acquisition, BIIB also gains nephrology expertise and an established infrastructure, which could set its key asset Felzartamab launch for success.

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Wire

Wedbush Raises Price Target on Biogen to $196 From $191 as 'Catalyst Engine Revving Up', Keeps Neutral Rating

Biogen (BIIB) has an average rating of overweight and mean price target of $213.79, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $195.08, Change: $+11.70, Percent Change: +6.38%

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Wire

RBC Capital Raises Biogen Price Target to $222 From $213

Biogen (BIIB) has an average rating of overweight and mean price target of $213.79, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $195.02, Change: $+11.64, Percent Change: +6.35%

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Research

Research Alert: Biogen Q1 Earnings: Strong Beat Overshadowed By Lowered Full-year Eps Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Biogen delivered strong Q1 2026 results with non-GAAP EPS of $3.57 (+18% Y/Y) significantly exceeding the consensus of $2.95, while revenue of $2.478B (+2% Y/Y) beat expectations of $2.2B. Growth products sustained impressive momentum, generating $851M (+12% Y/Y), now representing one-third of total revenue, with LEQEMBI collaboration revenue up 80% Y/Y to $60M and the MS franchise showing better-than-expected resilience at $779M (-4% Y/Y). We view the continued acceleration of growth products as demonstrating successful portfolio diversification away from MS dependence. Management downgraded 2026 non-GAAP EPS guidance to $14.25-$15.25 from $15.25-$16.25, primarily reflecting acquired IPR&D charges. The proposed $5.6B Apellis acquisition, expected to close in Q2 2026, will add SYFOVRE and EMPAVELI to the growth portfolio and is anticipated to be accretive in 2027, in our view. We expect the combined revenue from these assets to grow in the mid-to-high teens for at least the next two years.

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Wire

Goldman Sachs Adjusts Price Target on Biogen to $238 From $231, Maintains Buy Rating

Biogen (BIIB) has an average rating of overweight and mean price target of $213.68, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $183.69, Change: $-4.19, Percent Change: -2.23%

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Sectors

Sector Update: Health Care Stocks Mixed Late Afternoon

Health care stocks were mixed late Wednesday afternoon, with the NYSE Health Care Index down 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.1%.The iShares Biotechnology ETF (IBB) eased 0.1%.In corporate news, Biogen (BIIB) shares rose 2.2% after UBS upgraded the biotechnology company's stock to buy from neutral and boosted its price target to $225 per share from $185.Boston Scientific (BSX) shares jumped 8.3% after the company reported Q1 results exceeded Wall Street's estimates.Intuitive Surgical (ISRG) shares climbed 7% after the company lifted the full-year procedure growth outlook of its Da Vinci robotic surgery system and reported better-than-expected Q1 results.Merck (MRK), Germany's Merck KGaA and Japan's Ono Pharmaceutical expressed interest in Inhibrx Biosciences' (INBX) experimental cancer medicine that may be valued at more than $8 billion, Reuters reported. Merck shares rose 0.4%, and Inhibrx surged 35%.

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Wire

Sector Update: Health Care

Health care stocks were mixed late Wednesday afternoon with the NYSE Health Care Index down 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.2%.The iShares Biotechnology ETF (IBB) eased 0.1%.In corporate news, Biogen (BIIB) shares rose 2.2% after UBS upgraded the biotechnology company's stock to buy from neutral and boosted its price target to $225 per share from $185.

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Wire

Biogen Shares Rise After UBS Upgrade

Biogen (BIIB) shares rose 2.3% in Wednesday afternoon trading after UBS upgraded the biotechnology company's stock to buy from neutral and boosted its price target to $225 per share from $185.Trading volume exceeded 700,000 shares, compared with a daily average of over 1.2 million.Price: $190.25, Change: $+4.30, Percent Change: +2.31%

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Wire

Biogen's Q1 Earnings Call to Focus on BIIB080 Data and Apellis Deal, Oppenheimer Says

Biogen's (BIIB) Q1 earnings call will likely focus on data from the BIIB080 Alzheimer's disease study expected mid-year, Oppenheimer analysts said in a note emailed Wednesday.The company is scheduled to report its Q1 financial results on April 29.Oppenheimer analysts expect the company to post Q1 adjusted earnings of $2.96 a share. Analysts polled by FactSet expect $2.99.Oppenheimer said that BIIB080's phase 2 results are Biogen's largest near-term catalyst, as competitors' topline misses underscore high barriers to entry in the anti-tau field.Analysts said that another key focus in the earnings call will be the implications of Biogen's deal to acquire Apellis Pharmaceuticals (APLS).Oppenheimer has an outperform rating on the stock and a $275 price target.Price: $190.50, Change: $+4.55, Percent Change: +2.44%

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Wire

Rothschild & Co Redburn Adjusts Biogen Price Target to $180 From $150, Maintains Neutral Rating

Biogen (BIIB) has an average rating of overweight and mean price target of $213.07, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $191.67, Change: $+5.72, Percent Change: +3.07%

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Research

UBS Upgrades Biogen to Buy From Neutral, Adjusts Price Target to $225 From $185

Biogen (BIIB) has an average rating of overweight and mean price target of $213.07, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Sectors

Sector Update: Health Care Stocks Lean Lower Premarket Monday

Health care stocks were leaning lower premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) declining by 0.4% and the iShares Biotechnology ETF (IBB) down 0.5%.Biogen (BIIB) has agreed to acquire TJ Biopharma's rights to the felzartamab antibody in the Greater China Region under a definitive agreement, the companies said. Biogen shares were up more than 1% pre-bell.AstraZeneca (AZN) said its pivotal phase 3 study of tozorakimab demonstrated a "significant" reduction in the annual rate of moderate-to-severe chronic obstructive pulmonary disease, or COPD, exacerbations in trial participants. Shares of AstraZeneca were down more than 1% premarket.ANI Pharmaceuticals (ANIP) stock was up more than 1% after the company said it has received US Food and Drug Administration approval and launched Pimozide Tablets in 1 mg and 2 mg doses, the generic version of Orap, with 180-day Competitive Generic Therapy exclusivity.

$ANIP$AZN$BIIB$IBB$XLV
Sectors

Sector Update: Health Care

Health care stocks were flat to lower premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) inactive and the iShares Biotechnology ETF (IBB) down 0.5%.Biogen (BIIB) has agreed to acquire TJ Biopharma's rights to the felzartamab antibody in the Greater China Region under a definitive agreement, the companies said. Biogen shares were up more than 1% pre-bell.

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Research

Wells Fargo Upgrades Biogen to Overweight From Equalweight, Adjusts PT to $250 From $200

Biogen (BIIB) has an average rating of overweight and mean price target of $210.96, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Sectors

Sector Update: Health Care Stocks Higher Late Afternoon

Health care stocks rose late Tuesday afternoon, with the NYSE Health Care Index up 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.6%.The iShares Biotechnology ETF (IBB) climbed 2.1%.In corporate news, Johnson & Johnson (JNJ) lifted its full-year outlook on Tuesday as the healthcare products conglomerate's Q1 results surpassed Wall Street's expectations. Its shares rose 1.1%.Eli Lilly (LLY) has agreed to buy CrossBridge Bio for up to $300 million in cash, the pre-clinical biotechnology firm said Tuesday. Lilly shares were down 0.6%.Novo Nordisk (NVO) has received the Medicines and Healthcare products Regulatory Agency approval for a new single-dose 7.2 mg of Wegovy to treat adults with obesity, the UK regulator said. Novo shares climbed 3.5%.Biogen (BIIB) shares rose 1.5% after Piper Sandler upgraded the stock to overweight from neutral and boosted its price target to $214 from $177.Avanos Medical (AVNS) shares surged 69% after the company said Tuesday it agreed to be acquired by American Industrial Partners affiliates in an all-cash deal valuing the company at roughly $1.27 billion.

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Wire

Biogen Shares Rise After Piper Sandler Upgrade

Biogen (BIIB) shares were up about 1.5% in Tuesday trading after Piper Sandler upgraded the stock to overweight from neutral and boosted its price target to $214 from $177.Trading volume stood at more than 934,000 shares, compared with a daily average of nearly 1.3 million.Price: $179.10, Change: $+2.73, Percent Change: +1.55%

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Research

Piper Sandler Upgrades Biogen to Overweight From Neutral, Adjusts Price Target to $214 From $177

Biogen (BIIB) has an average rating of overweight and mean price target of $210.96, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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