Analysts Are Increasing Price Targets of These 5 Stocks

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01. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 75

On April 25, Morgan Stanley increased the price target on Biogen Inc. (NASDAQ:BIIB) from $349 to $371 and maintained an Overweight rating on the shares following the company’s Q1 results. The analyst reportedly used a discounted cash flow analysis with a 10% discount rate and a 2% terminal growth rate to derive the new price target.

ClearBridge Investments made the following comment about Biogen Inc. (NASDAQ:BIIB) in its Q3 2022 investor letter:

“Biogen Inc. (NASDAQ:BIIB) was the leading contributor among several biopharma names, boosted by positive, pivotal clinical data for its next-generation Alzheimer’s treatment Lecanemab. In a pivotal trial, the drug proved safe and efficacious in slowing progression of Alzheimer’s disease.”

See also 15 Best Artificial Intelligence (AI) Stocks to Buy and The Future of Artificial Intelligence

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