H.C. Wainwright Weighs in on Biogen Inc (BIIB) Following World Muscle Society Congress
In a research report released today, H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on shares of Biogen Inc (NASDAQ:BIIB) with a price target of $360, after the company presented incremental updates from both ENDEAR and NURTURE in infant-onset SMA, at the World Muscle Society Congress.
Fein commented, “With regards to the ENDEAR study, while no further breakdown of the reported treatment effect on proportion of motor milestone responders was provided at the meeting, we note the following additional data points that, in our view, are further supportive of the NDA submission.”
“We view the additional interim analysis from NURTURE as incrementally positive and, although open label, supportive of the primary endpoint win in the ENDEAR study. Data presented at the meeting (n=13) demonstrated improvements in motor function and achievement of developmental milestones, including head control, independent sitting, standing unaided and with support,” the analyst added.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a yearly average return of 16.2% and a 52% success rate. Fein has a 8.5% average return when recommending BIIB, and is ranked #154 out of 4183 analysts.
Out of the 21 analysts polled by TipRanks, 11 rate Biogen stock a Buy, while 10 rate the stock a Hold. With a return potential of 10%, the stock’s consensus target price stands at $338.47.