(CercleFinance.com) – Jefferies maintains its ‘buy’ rating on Biogen, with an unchanged price target of 300 dollars, reflecting an upside potential of almost 47%.
The analyst indicates that expectations are ultimately quite low regarding the phase III data to be published in the coming weeks on lecanemab in Alzheimer’s disease.
Jefferies estimates at more than 35% the chances of obtaining statistically significant results (the consensus is more pessimistic, at 25%) which could then bring the share price to $275, according to the broker, against $165-175 in the event of negative result.
While the title is currently evolving above $200, its upside potential appears to be greater than its downside potential, believes the broker, who therefore sees Biogen as ‘an attractive value’.
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