Goldman Sachs sets new Biogen stock price target on bold Alzheimer's bet

Biogen (NASDAQ: BIIB) has had a rocky fewer years. Its aggregate sclerosis franchise has been bleeding marketplace stock to generics and biosimilars, gross has trended down, and the banal spent overmuch of 2025 trading adjacent multi-year lows.

So erstwhile Goldman Sachs steps up with a terms people hike to $250, it's worthy asking what the slope is really seeing.

The abbreviated answer: Leqembi, Biogen's Alzheimer's treatment, is delivering. And the lawsuit for the banal goes beyond today's income figures, hinging connected what the adjacent 18 months could look similar if respective catalysts onshore connected schedule.

Goldman's expert Salveen Richter raised the bank's terms people connected BIIB from $238 to $250, keeping a bargain standing intact, according to MarketScreener.

The determination followed a Q1 2026 net study that comfortably bushed expectations, topped disconnected by encouraging signals from Biogen's experimental next-generation Alzheimer's drug.

Goldman's $250 people reflects much than 1 cause doing good

Goldman didn't rise its people connected unsighted optimism. The Biogen Q1 2026 net study gave the slope existent information to enactment with.

Biogen posted Q1 gross of $2.48 billion, up 2% twelvemonth implicit year, and non-GAAP net per stock of $3.57, good up of the $2.95 statement estimate.

According to the Q1 2026 net transcript, Leqembi generated $168 cardinal successful planetary in-market income during the quarter, a 74% leap from the aforesaid play a twelvemonth ago.

That 74% maturation complaint is the benignant of fig that gets a bank's attention. Leqembi is inactive aboriginal successful its commercialized ramp, which means the maturation curve has country to steepen if a fewer structural hurdles clear.

Goldman's Salveen Richter pressed absorption connected the Q1 net telephone astir blood-based biomarker adoption, a cardinal origin successful whether Leqembi tin scope much patients faster.

The abbreviated version: Adoption is accelerating, peculiarly done Biogen's superior attraction aviator program, which is showing higher biomarker usage rates among enrolled physicians.

That matters due to the fact that diagnosing Alzheimer's astatine earlier stages opens up a larger excavation of eligible patients for treatment.

What Leqembi's commercialized momentum really signals

Leqembi is an FDA-approved therapy for aboriginal Alzheimer's illness that works by removing amyloid plaques from the brain, Reuters noted.

Amyloid is simply a macromolecule that builds up abnormally successful Alzheimer's patients and is wide believed to lend to cognitive decline.

Leqembi holds 65% to 70% marketplace stock connected a patient-number ground implicit Eli Lilly's competing cause Kisunla, according to Eisai's astir caller guidance, Investing.com confirmed.

That's a meaningful pb successful a marketplace that is inactive tiny but wide expected to turn substantially arsenic awareness, diagnostics, and reimbursement infrastructure improve.