Biogen (BIIB) Gets a Sell Rating from Raymond James


In a report released today, Steven Seedhouse from Raymond James maintained a Sell rating on Biogen (BIIB). The company’s shares closed last Monday at $262.80.

According to TipRanks.com, Seedhouse is a 4-star analyst with an average return of 10.0% and a 47.0% success rate. Seedhouse covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Alexion Pharmaceuticals, and Apellis Pharmaceuticals.

Currently, the analyst consensus on Biogen is a Moderate Buy with an average price target of $308.21, representing a 15.3% upside. In a report issued on March 30, Robert W. Baird also reiterated a Sell rating on the stock with a $216.00 price target.

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Based on Biogen’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.85 billion and net profit of $358 million. In comparison, last year the company earned revenue of $3.67 billion and had a net profit of $1.44 billion.

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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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