Shares of biotech company Biogen (NASDAQ:BIIB)
fell 3.1% in the morning session after analysts at Truist downgraded the stock, citing concerns over the company's growth prospects and high-risk pipeline. The brokerage lowered its rating on the drugmaker to "hold" from "buy" and significantly cut its price target to $142 from $199. Truist expressed a lack of optimism regarding Biogen's Alzheimer's drug opportunity, forecasting only modest growth for Leqembi. The downgrade also pointed to weak growth prospects for the company's existing products and noted that its late-stage pipeline is viewed as high-risk. Analysts at the firm believe sales for other key drugs, Zurzuvae and Skyclarys, have limited growth potential or have already peaked. The negative sentiment from the analyst action appeared to overshadow other company news, as Biogen separately announced a $2 billion investment to expand its manufacturing footprint in North Carolina.
Stay informed about the performance of the S&P500 index in the middle of the day on Monday. Uncover the top gainers and losers in today's session for valuable insights.
A number of healthcare stocks fell in the afternoon session after several negative developments weighed on the sector. Weakness in managed care providers was a significant factor, with companies like Elevance Health and Humana seeing declines due to an analyst downgrade and a lost lawsuit regarding Medicare bonus payments, respectively.
A stock with low volatility can be reassuring, but it doesn’t always mean strong long-term performance.
Investors who prioritize stability may miss out on higher-reward opportunities elsewhere.
The company anticipates a research expense in Q2 associated with milestone and licensing payments, which will impact both GAAP and non-GAAP earnings per share.
The low valuation multiples for value stocks provide a margin of safety that growth stocks rarely offer.
However, the challenge lies in determining whether these cheap assets are genuinely undervalued or simply on sale due to their potentially deteriorating business models.
Biogen's early-stage spinal muscular atrophy drug salanersen showed safety, motor improvements and 70% reduction in neurodegeneration markers after one-year dosing.
Supernus to acquire Sage Therapeutics for $795 million, gaining Zurzuvae and aiming for $200 million in annual cost synergies by expanding its CNS portfolio.
A company with profits isn’t always a great investment.
Some struggle to maintain growth, face looming threats, or fail to reinvest wisely, limiting their future potential.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how therapeutics stocks fared in Q1, starting with Biogen (NASDAQ:BIIB).
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Let's have a look at what is happening on the US markets in the middle of the day on Thursday. Below you can find the top S&P500 gainers and losers in today's session.
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Biotech company Biogen (NASDAQ:BIIB) beat Wall Street’s revenue expectations in Q1 CY2025, with sales up 6.1% year on year to $2.43 billion. Its non-GAAP profit of $3.02 per share was 1.9% above analysts’ consensus estimates.
