In a report released today, Jay Olson from Oppenheimer maintained a Buy rating on Biogen (BIIB – Research Report), with a price target of $270.00. The company’s shares closed last Friday at $208.90.
According to TipRanks, Olson is a 5-star analyst with an average return of 17.1% and a 41.89% success rate. Olson covers the Healthcare sector, focusing on stocks such as Biogen, Viking Therapeutics, and Amgen.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Biogen with a $284.96 average price target, implying a 36.41% upside from current levels. In a report released on April 25, Truist Financial also maintained a Buy rating on the stock with a $340.00 price target.
Based on Biogen’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.39 billion and a net profit of $249.7 million. In comparison, last year the company earned a revenue of $2.54 billion and had a net profit of $550.4 million
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is neutral on the stock.
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Biogen (BIIB) Company Description:
Incorporated in 1978, Massachusetts-based Biogen, Inc. is a biopharmaceutical company, which discovers, develops, and delivers therapies for the treatment of neurological and neurodegenerative diseases. It offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, VUMERITY, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
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