BMO Capital Reiterates Outperform Rating on Biogen (BIIB)

BMO Capital analyst Evan David Seigerman reiterated an Outperform rating and $260.00 price target on Biogen (NASDAQ: BIIB).

The analyst commented, "Biogen announced plans this morning to acquire Human Immunology Biosciences (HI-Bio) for $1.15B upfront and $650M in potential development milestones. A good fit for Biogen, HI-Bio's lead asset Felzartamab is an anti-CD38 antibody being evaluated across a number of rare and immune-related diseases with HI-Bio set to present two abstracts at European Renal Association (ERA) in the coming days. Biogen is bolstering its pipeline in therapeutic areas it knows well, in line with management commentary after we saw the company reprioritize in recent months. Deal expected to close in 3Q24."

For an analyst ratings summary and ratings history on Biogen click here. For more ratings news on Biogen click here.

Shares of Biogen closed at $225.21 yesterday.

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