Why Biogen Shares Are Trading Higher Today


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Biogen Inc (NASDAQ:BIIB) shares are trading higher by 3.2% at $419.81 after SVB Leerink maintained an Outperform on the stock and raised its price target from $380 to $475. The stock is also experiencing continued volatility following FDA accelerated approval of its Alzheimer's candidate.


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Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan.

Biogen has several drug candidates in phase 3 trials in neurology and neurodegenerative diseases and has launched Spinraza with partner Ionis. Aduhelm was approved as the firm's first Alzheimer's disease therapy in June 2021.

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