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SVB Securities Thinks Biogen’s Stock is Going to Recover

SVB Securities analyst Marc Goodman maintained a Buy rating on Biogen (BIIBResearch Report) on July 26. The company’s shares closed last Thursday at $214.20, close to its 52-week low of $187.16.

According to TipRanks.com, Goodman is a 2-star analyst with an average return of 0.2% and a 47.6% success rate. Goodman covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Opthea Limited Sponsored ADR, and Amylyx Pharmaceuticals Inc.

Biogen has an analyst consensus of Moderate Buy, with a price target consensus of $238.58, a 12.3% upside from current levels. In a report issued on July 14, Jefferies also maintained a Buy rating on the stock with a $300.00 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 $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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