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Sector Update: Healthcare Stocks Softer Thursday Afternoon

Healthcare stocks edged down Thursday afternoon, with the NYSE Healthcare Index easing 0.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) fractionally lower.The iShares Biotechnology ETF (IBB) decreased 0.5%.In corporate news, Biogen (BIIB) shares fell nearly 6% after the firm said Thursday that a phase 2 trial of diranersen in people with early Alzheimer's disease did not meet its primary endpoint.Prestige Consumer Healthcare (PBH) reported weaker-than-expected Q4 results and issued 2026 guidance below consensus, with the shortfall driven primarily by supply constraints in Clear Eyes and broader execution pressures, Oppenheimer said in a note. Oppenheimer downgraded the stock to perform from outperform and removed its $65 price target. Prestige shares slumped past 8%.Doximity (DOCS) could face near-term pressure from slowing growth after issuing weaker-than-expected guidance, though strong user engagement trends and expanding AI opportunities continue to support the stock's long-term outlook, Morgan Stanley said in a note. Morgan Stanley lowered the price target on Doximity to $35 from $49, while maintaining an overweight rating. Doximity shares dropped more than 24%.Aveanna Healthcare (AVAH) shares jumped 11% after it reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.

$AVAH$BIIB$DOCS$PBH

Sector Update: Healthcare

Healthcare stocks edged down Thursday afternoon, with the NYSE Healthcare Index easing 0.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) fractionally lower.The iShares Biotechnology ETF (IBB) decreased 0.6%.In corporate news, Biogen (BIIB) shares fell about 5% after the firm said Thursday that a phase 2 trial of diranersen in people with early Alzheimer's disease did not meet its primary endpoint.

Oppenheimer Raises Biogen Price Target to $300 From $275, Maintains Outperform Rating

Biogen (BIIB) has an average rating of overweight and mean price target of $0, according to analysts polled by FactSet.Price: $194.50, Change: $-10.03, Percent Change: -4.90%

Biogen's 'Leqembi' Subcutaneous Approval Still Likely Despite FDA Delay, RBC Says

Biogen (BIIB) still appears likely to secure approval for the subcutaneous induction version of Alzheimer's drug "Leqembi" despite a delayed US Food and Drug Administration review, with recent regulatory precedents and existing clinical data supporting a favorable outcome, RBC Capital Markets said in a report Thursday.Regulators may need more time to assess safety aspects of the filing, particularly the risk of Amyloid-Related Imaging Abnormalities-Edema/Effusion, or ARIA-E events, in treatment-naive patients. Still, Leqembi's subcutaneous maintenance version is already approved and the data has effectively been under FDA review for about seven months.The filing relies on pharmacokinetic and pharmacodynamic, or PK/PD, modeling showing that a 500 mg weekly subcutaneous dose should produce results similar to the approved intravenous version, RBC said, adding that past cases involving non-Chemistry, Manufacturing and Controls FDA review delays have generally resulted in eventual approvals, even though there is no exact precedent for Leqembi's specific situation.RBC has an outperform rating on Biogen, with a price target of $222.Shares of Biogen were down more than 5% in Thursday trading.Price: $194.19, Change: $-10.34, Percent Change: -5.06%

Top Midday Stories: Cisco Shares Soar as Guidance Tops Consensus; Alibaba, JD Reportedly Cleared to Buy Nvidia H200 AI Chips

All three major US stock indexes were up in late-morning trading Thursday, as investors monitor news emanating from President Donald Trump's meeting with Chinese President Xi Jinping in Beijing.In company news, Cisco Systems (CSCO) reported fiscal Q3 adjusted earnings late Wednesday of $1.06 per diluted share, up from $0.96 a year earlier and above the FactSet consensus analyst estimate of $1.03. Fiscal Q3 revenue was $15.8 billion, up from $14.1 billion a year ago and above the FactSet consensus of $15.6 billion. For fiscal Q4, Cisco said it expects Q4 adjusted EPS of $1.16 to $1.18 on revenue of $16.7 billion to $16.9 billion. Analysts polled by FactSet expect $1.08 and $15.8 billion, respectively. Cisco shares were up 15.0% around midday.Alibaba (BABA) and JD.com (JD) are among the roughly 10 Chinese companies that have secured US clearance to buy Nvidia's (NVDA) H200 artificial intelligence chips, though no deliveries have been made yet, Reuters reported Thursday, citing three people familiar with the matter. Alibaba and JD shares were down 1.9% and 2.1%, respectively. Nvidia shares were up 4.6%.Chinese President Xi Jinping told the chief executives of Apple (AAPL), Tesla (TSLA), Nvidia and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Apple shares were up 0.1%, while Tesla shares were up 0.8%.Biogen (BIIB) said Thursday that a phase 2 study evaluating diranersen in patients with early Alzheimer's disease did not meet its primary endpoint evaluating dose response for change from baseline on the Clinical Dementia Rating-Sum of Boxes at Week 76. Biogen shares were down 5.0%.Price: $117.40, Change: $+15.53, Percent Change: +15.24%

$AAPL$BABA$BIIB$CSCO$JD$NVDA$TSLA

Sector Update: Healthcare Stocks Mixed Premarket Thursday

Healthcare stocks were mixed premarket Thursday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.2% higher and the iShares Biotechnology ETF (IBB) declining by 0.1%.Aveanna Healthcare (AVAH) stock was up more than 9% after the company reported higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 revenue guidance.Biogen (BIIB) shares were up more than 1% after the company said a phase 2 study evaluating diranersen in patients with early Alzheimer's disease did not meet its primary endpoint evaluating dose response for change from baseline on the Clinical Dementia Rating-Sum of Boxes at week 76.MeiraGTx (MGTX) stock was down 1% after the company posted a wider Q1 adjusted loss as revenue fell during the period.

$AVAH$BIIB$IBB$MGTX$XLV

Citigroup Adjusts Biogen Price Target to $200 From $190

Biogen (BIIB) has an average rating of overweight and mean price target of $0, 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://finwires.com/en/contact)Price: $188.65, Change: $-0.63, Percent Change: -0.33%

Goldman Sachs Adjusts Biogen Price Target to $250 From $238

Biogen (BIIB) has an average rating of overweight and mean price target of $215.86, according to analysts polled by FactSet.Price: $191.43, Change: $-2.95, Percent Change: -1.52%

Guggenheim Adjusts Price Target on Biogen to $260 From $246

Biogen (BIIB) has an average rating of overweight and mean price target of $215.86, 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://finwires.com/en/contact)Price: $191.38, Change: $-3.00, Percent Change: -1.54%

Goldman Sachs Adjusts Price Target on Biogen to $250 From $238

Biogen (BIIB) has an average rating of overweight and mean price target of $215.86, 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://finwires.com/en/contact)Price: $191.77, Change: $-2.61, Percent Change: -1.34%

Bernstein Adjusts Price Target on Biogen to $200 From $201

Biogen (BIIB) has an average rating of overweight and mean price target of $215.86, 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://finwires.com/en/contact)Price: $191.77, Change: $-2.61, Percent Change: -1.34%

Morgan Stanley Adjusts Price Target on Biogen to $206 From $200

Biogen (BIIB) has an average rating of overweight and mean price target of $215.86, 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://finwires.com/en/contact)Price: $191.38, Change: $-3.00, Percent Change: -1.54%

Rothschild & Co Redburn Adjusts Price Target on Biogen to $190 From $180

Biogen (BIIB) has an average rating of overweight and mean price target of $215.86, 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://finwires.com/en/contact)Price: $191.38, Change: $-3.00, Percent Change: -1.54%

Research92d ago

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.

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://finwires.com/en/contact)Price: $195.08, Change: $+11.70, Percent Change: +6.38%

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://finwires.com/en/contact)Price: $195.02, Change: $+11.64, Percent Change: +6.35%

Research92d ago

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.

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://finwires.com/en/contact)Price: $183.69, Change: $-4.19, Percent Change: -2.23%

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%.

$BIIB$BSX$INBX$ISRG$MRK

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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