Truist Financial analyst Srikripa Devarakonda maintained a Buy rating on Biogen (BIIB – Research Report) today and set a price target of $340.00. The company’s shares closed yesterday at $201.99.
According to TipRanks, Devarakonda is a 4-star analyst with an average return of 15.4% and a 50.00% success rate. Devarakonda covers the Healthcare sector, focusing on stocks such as Cytokinetics, Keros Therapeutics, and Incyte.
In addition to Truist Financial, Biogen also received a Buy from Canaccord Genuity’s Sumant Kulkarni in a report issued today. However, on the same day, Barclays maintained a Hold rating on Biogen (NASDAQ: BIIB).
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.
