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CAMBRIDGE, Mass. - Biogen Inc. (NASDAQ:BIIB), a prominent player in the biotechnology industry with a market cap of $22.63 billion, will present new data from its felzartamab clinical development programs at the American Society of Nephrology’s Kidney Week 2025, taking place November 5-9 in Houston.
The company will showcase first-of-its-kind longitudinal gene expression data in IgA nephropathy (IgAN) patients treated with felzartamab, an investigational anti-CD38 monoclonal antibody currently being evaluated in three pivotal Phase 3 studies across multiple kidney indications. InvestingPro analysis indicates Biogen is currently undervalued, with strong cash flows that can sufficiently cover its interest payments.
An oral presentation will highlight new translational RNAseq data from the Phase 2 IGNAZ study, linking gene expression changes to felzartamab’s mechanism of action in IgAN. A separate poster presentation will evaluate the impact of felzartamab on vaccine immunity in IgAN patients, indicating preservation of humoral immunity.
Biogen will also host an Exhibitor Spotlight discussing the role of CD38+ cells in immune-mediated kidney diseases, including antibody-mediated rejection, IgAN, and primary membranous nephropathy.
The first data readout from felzartamab’s clinical program is anticipated in 2027 from TRANSCEND, a study evaluating the drug in adult kidney recipients diagnosed with late antibody-mediated rejection.
"Following the initiation of three pivotal Phase 3 studies in 2025, Kidney Week is a pivotal moment to showcase the potential promise of our anti-CD38 platform," said Uptal Patel, Head of Biogen West Coast Hub, according to the company’s press release.
Felzartamab was originally developed by MorphoSys AG (now MorphoSys GmbH, a Novartis company) and came under Biogen’s development following its acquisition of Human Immunology Biosciences in July 2024. Biogen has demonstrated strong financial performance with a 24.88% price return over the past six months and remains profitable with a P/E ratio of 14.06. For comprehensive analysis of Biogen’s financial health and detailed Pro Research Reports, investors can access InvestingPro, which offers insights on over 1,400 US equities.
In other recent news, Biogen reported strong third-quarter financial results, surpassing expectations in both earnings and revenue. The company achieved non-GAAP earnings per share of $4.81, which was significantly higher than the forecasted $3.88. Revenue reached approximately $2.53 billion, exceeding the projected $2.34 billion and marking an 8% increase over consensus estimates. Despite these positive results, Biogen’s newly launched products have shown slow growth, leading Baird to lower its price target for the company from $255 to $250, while maintaining an Outperform rating. Conversely, Guggenheim raised its price target for Biogen from $165 to $185, maintaining a Buy rating, following the earnings report. Analysts noted a 12% decrease in earnings per share quarter-over-quarter but highlighted an 18% increase year-over-year. Revenue also saw a 4.2% decline quarter-over-quarter but a 2.8% rise year-over-year. These developments reflect varied analyst perspectives on Biogen’s future performance.
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