.png "Biogen Inc (NASDAQ: BIIB)")
In a report released yesterday, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Biogen Inc (BIIB), with a price target of $400. The company’s shares closed yesterday at $322.61.
Young commented:
“. We reiterate our Overweight rating and $400 12-month price target. Biogen hosted a webcast this morning to outline its strategy in multiple sclerosis (MS), focusing on the pipeline as well as lifecycle management for the $9B base business. We saw detailed commentary about specific lifecycle management plans as most important. We think BIIB098 could be another option for new patients or Tecfidera switches. Although investors remain focused on aducanumab, we think understanding long-term MS growth is of similar importance.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 4.2% and a 45.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Puma Biotechnology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Biogen Inc with a $393 average price target.
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The company has a one-year high of $388.67 and a one-year low of $249.17. Currently, Biogen Inc has an average volume of 1.24M.
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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.
