In a report released yesterday, Evan Seigerman from BMO Capital downgraded Biogen (BIIB – Research Report) to a Hold, with a price target of $156.00.
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Evan Seigerman’s rating is based on several complex factors affecting Biogen’s current and future financial performance. One of the primary concerns is the continued decline in revenue from the multiple sclerosis (MS) sector, which is a significant part of Biogen’s business. The 2025 guidance suggests that this erosion is accelerating, casting doubts on the ability of newer product launches to compensate for this loss. Seigerman expresses uncertainty about the performance of Skyclarys, noting its modest revenue growth and potential volatility in future earnings, especially given the challenges in securing reimbursement and uptake.
While Spinraza and Leqembi show some positive signs, their growth seems insufficient to counterbalance the declines in the MS segment. The analyst also highlights that recent business development and commercialization efforts may not adequately address these challenges. Overall, Seigerman remains cautious about Biogen’s growth prospects, which is reflected in the reduced target price and the decision to maintain a Hold rating.
Seigerman covers the Healthcare sector, focusing on stocks such as Biogen, Amgen, and Merck & Company. According to TipRanks, Seigerman has an average return of 6.7% and a 47.35% success rate on recommended stocks.
In another report released today, Wells Fargo also maintained a Hold rating on the stock with a $140.00 price target.