Biogen's Q1 Earnings Call to Focus on BIIB080 Data and Apellis Deal, Oppenheimer Says

MT Newswires Live04-22

Biogen's (BIIB) Q1 earnings call will likely focus on data from the BIIB080 Alzheimer's disease study expected mid-year, Oppenheimer analysts said in a note emailed Wednesday.

The company is scheduled to report its Q1 financial results on April 29.

Oppenheimer analysts expect the company to post Q1 adjusted earnings of $2.96 a share. Analysts polled by FactSet expect $2.99.

Oppenheimer said that BIIB080's phase 2 results are Biogen's largest near-term catalyst, as competitors' topline misses underscore high barriers to entry in the anti-tau field.

Analysts said that another key focus in the earnings call will be the implications of Biogen's deal to acquire Apellis Pharmaceuticals (APLS).

Oppenheimer has an outperform rating on the stock and a $275 price target.

Price: 190.50, Change: +4.55, Percent Change: +2.44

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