• AMGN
• BIIB
• GILD
• REGN
• VRTX

Citi initiates coverage on 5 new biotech stocks

Citigroup added five biotech stocks, giving Buy ratings to Gilead and Vertex, while Amgen, Biogen, and Regeneron received Neutral ratings due to various market challenges.

• BIIB

Biogen down as Morgan Stanley cuts rating on sluggish Alzheimer’s drug launch

Biogen shares fell 3% after Morgan Stanley downgraded its stock and revenue estimates for Alzheimer's drug Leqembi, citing logistical challenges and competition from Eli Lilly's Kisunla.

• BIIB

Earnings call: Biogen reports progress and strategic pipeline expansion

• BIIB

Biogen lifts annual profit forecast as new treatments boost earnings

Biogen raised its profit forecast despite falling shares and missed sales estimates for key drugs, focusing on new treatments and cost-cutting measures to improve growth.

• AMD
• BG
• BIIB
• CAT
• EL
• GOOGL
• HUM
• LLY

Alphabet, Biogen, Humana rise premarket; AMD, Eli Lilly fall

US stock futures rise slightly as earnings reports come in. Notable movers include Alphabet up 6.5% and AMD down 8%. Several companies reported mixed results.

• BIIB

Biogen raises annual earnings guidance, tops Q3 estimates; shares up

Biogen raised its 2024 EPS guidance after reporting Q3 earnings of $4.08, exceeding expectations, with significant growth in Alzheimer's drug sales and a stable revenue outlook.

• BIIB

Biogen receives breakthrough therapy designation for felzartamab, shares edge up

Biogen's shares rose after receiving FDA breakthrough therapy designation for felzartamab, an investigational treatment for late antibody-mediated rejection in kidney transplant patients.

• BIIB
• LLY

UBS sees more downside and than upside in Biogen stock

UBS analysts lowered Biogen's stock price target and EPS estimates, citing challenges with growth assets and competition, leading to a respective 30% and 14% decline projections.

• AIG
• AMH
• AMZN
• BIIB
• CB
• CCJ
• HQY
• MKS
• PINS
• QSR
• SPGI
• ZALG

Pinterest added to RBC's 'Top 30 Global Ideas List', Amazon out

RBC Capital Markets updated its Top 30 Global Ideas List, adding Pinterest and others while removing Amazon and notable names, amid expectations for improved growth and returns.

• BIIB
• CRM
• CSCO
• JNJ
• TGT
• US500

Buy US stocks with less demanding valuations: HSBC

HSBC analysts suggest focusing on stocks with lower valuations as S&P 500 hits record highs, while advising against small cap investments due to historical underperformance.