Biogen (BIIB) Received its Third Buy in a Row


After Jefferies and H.C. Wainwright gave Biogen (NASDAQ: BIIB) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Jay Olson assigned a Buy rating to Biogen today and set a price target of $300.00. The company’s shares closed last Thursday at $272.00.

According to TipRanks.com, Olson is a 2-star analyst with an average return of 0.1% and a 42.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Madrigal Pharmaceuticals, and Enanta Pharmaceuticals.

Currently, the analyst consensus on Biogen is a Moderate Buy with an average price target of $307.42, implying a 14.9% upside from current levels. In a report issued on March 15, H.C. Wainwright also reiterated a Buy rating on the stock with a $305.00 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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