Merrill Lynch Reaffirms Their Sell Rating on Biogen Inc (BIIB)

Merrill Lynch analyst Geoff Meacham reiterated a Sell rating on Biogen Inc (BIIB) yesterday and set a price target of $200.00. The company’s shares closed last Monday at $281.87.

According to TipRanks.com, Meacham is a 4-star analyst with an average return of 3.1% and a 55.1% success rate. Meacham covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Alexion Pharmaceuticals, and Vertex Pharmaceuticals.

Currently, the analyst consensus on Biogen Inc is a Hold with an average price target of $272.08, implying a -12.2% downside from current levels. In a report issued on October 11, Morgan Stanley also maintained a Sell rating on the stock with a $212.00 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $344.00 and a one-year low of $215.78. Currently, Biogen Inc has an average volume of 1.78M.

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.