Biogen (BIIB) Stock

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Over the past decade, Biogen Inc. has experienced both thrilling moments and major setbacks. The company is working on a recovery plan that involves reducing costs, adjusting its product pipeline, and pursuing mergers and acquisitions. Although the launch of Leqembi did not meet initial expectations, it has shown improvement recently, with positive growth trends in the third quarter.

While it's unclear if Biogen's sales and profits will greatly improve, investors may choose to keep the stock because of the promise shown by its new medications.

Jefferies has lowered its rating for Biogen Inc (BIIB) due to the company's challenging situation.

Biogen Inc. (NASDAQ:BIIB) will hold its 7th Annual Evercore ISI HealthCONx Healthcare Conference Call on December 3, 2024, at 9:10 AM ET. The company will be represented by Alisha Alaimo, President and Head of North America, and Michael McDonnell, Chief Financial Officer. Umer Raffat from Evercore ISI expressed gratitude for Biogen Management's participation.

On November 19, 2024, UCB and Biogen Inc. announced the results of the Phase 3 PHOENYCS GO study, which assessed dapirolizumab pegol (DZP), a new anti-CD40L drug. The study showed notable improvements in disease activity for individuals with moderate-to-severe systemic lupus erythematosus (SLE). These findings were presented at the ACR Convergence 2024, the annual meeting of the American College of Rheumatology, held in Washington, DC.

The CHMP has given a favorable recommendation for the approval of Leqembi, developed by BIIB and Eisai, to treat early Alzheimer's disease.

On Thursday, Biogen's stock increased by 1% after the European pharmaceutical regulator gave a favorable opinion on the Alzheimer's drug that Biogen created with its Japanese partner, Eisai. This decision changed from an earlier refusal to approve the drug.

Investors interested in Medical - Biomedical and Genetics stocks may have come across Biogen Inc. (BIIB) and Myriad Genetics (MYGN). The question is, which of these two stocks provides better value for investors at this moment?