Robert W. Baird analyst Brian Skorney maintained a Hold rating on Biogen (BIIB – Research Report) on July 26 and set a price target of $224.00. The company’s shares closed last Thursday at $214.20, close to its 52-week low of $187.16.
According to TipRanks.com, Skorney has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -7.1% and a 42.6% success rate. Skorney covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Vertex Pharmaceuticals, and Enanta Pharmaceuticals.
Biogen has an analyst consensus of Moderate Buy, with a price target consensus of $236.83, representing an 11.5% upside. In a report issued on July 20, Piper Sandler also maintained a Hold rating on the stock with a $200.00 price target.
Based on Biogen’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.59 billion and net profit of $1.06 billion. In comparison, last year the company earned revenue of $2.78 billion and had a net profit of $449 million.
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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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