Raymond James Sticks to Their Sell Rating for Biogen (BIIB)


Raymond James analyst Steven Seedhouse maintained a Sell rating on Biogen (BIIB) on July 22. The company’s shares closed last Thursday at $274.86.

According to TipRanks.com, Seedhouse is a 4-star analyst with an average return of 17.9% and a 44.2% success rate. Seedhouse covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Galmed Pharmaceuticals, and NGM Biopharmaceuticals.

The word on The Street in general, suggests a Hold analyst consensus rating for Biogen with a $309.30 average price target, a 13.3% upside from current levels. In a report issued on July 15, Morgan Stanley also reiterated a Sell rating on the stock with a $263.00 price target.

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Based on Biogen’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.68 billion and net profit of $1.54 billion. In comparison, last year the company earned revenue of $3.62 billion and had a net profit of $1.49 billion.

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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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