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Barclays analyst Geoff Meacham maintained a Hold rating on Biogen Inc (BIIB) yesterday and set a price target of $250. The company’s shares opened today at $225.10, close to its 52-week low of $221.05.
According to TipRanks.com, Meacham is a 4-star analyst with an average return of 5.5% and a 56.8% success rate. Meacham covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Bausch Health Companies Inc, and Kiniksa Pharmaceuticals Ltd.
The word on The Street in general, suggests a Hold analyst consensus rating for Biogen Inc with a $276.86 average price target, representing a 23.0% upside. In a report released yesterday, Mizuho Securities also downgraded the stock to Hold with a $235 price target.
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Biogen Inc’s market cap is currently $44.74B and has a P/E ratio of 10.50. The company has a Price to Book ratio of 3.43.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BIIB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Biogen, Inc. is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, 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. The company was founded by Charles Weissmann, Heinz Schaller, Kenneth Murray, Walter Gilbert, and Phillip Allen Sharp in 1978 and is headquartered in Cambridge, MA.
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