Morgan Stanley analyst Matthew Harrison maintained a Buy rating on Biogen (BIIB – Research Report) today and set a price target of $345.00. The company’s shares opened today at $291.93.
Harrison covers the Healthcare sector, focusing on stocks such as Moderna, Gilead Sciences, and Editas Medicine. According to TipRanks, Harrison has an average return of 7.9% and a 53.46% success rate on recommended stocks.
Currently, the analyst consensus on Biogen is a Moderate Buy with an average price target of $317.50, which is an 8.76% upside from current levels. In a report released on January 19, Jefferies also maintained a Buy rating on the stock with a $350.00 price target.
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BIIB market cap is currently $41.15B and has a P/E ratio of 14.87.
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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.
Read More on BIIB:
- Donanemab CRL a ‘positive headline’ for Biogen’s Leqembi, says William Blair
- Eisai submits marketing authorization application for lecanemab in Japan
- FDA Commissioner defends FDA’s approval of Biogen’s Aduhelm, WSJ reports
- Eisai submits MAA for lecanemab to EMA
- FDA review suggests high amenability for a full leca approval, says RBC Capital
