Biogen Inc (BIIB) Received its Third Buy in a Row


After Oppenheimer and Cantor Fitzgerald gave Biogen Inc (NASDAQ: BIIB) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Salim Syed maintained a Buy rating on Biogen Inc today and set a price target of $427. The company’s shares opened today at $325.62.

Syed wrote:

“We were in attendance. Tidbits below, including relevant points from our meetings with Samsung Bioepis and AC Immune management teams. Overall incrementally positive for BIIB in our view.”

According to TipRanks.com, Syed is a 4-star analyst with an average return of 4.3% and a 60.2% success rate. Syed covers the Healthcare sector, focusing on stocks such as Unity Biotechnology Inc, Wave Life Sciences, and Gilead Sciences.

Biogen Inc has an analyst consensus of Moderate Buy, with a price target consensus of $375.71, representing a 15.4% upside. In a report issued on January 7, J.P. Morgan also maintained a Buy rating on the stock.

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Biogen Inc’s market cap is currently $65.81B and has a P/E ratio of 21.13. The company has a Price to Book ratio of 4.78.

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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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