Biogen (NASDAQ:BIIB) Rating Change
Equity research analysts at UBS’s equity research division raised Biogen (NASDAQ:BIIB)’s stock from “Sell” to “Neutral” on Monday morning. The analysts at UBS have a price target of $270.0 on BIIB or 7.25 % more upside.
The company’s rating upgrade is welcomed by investors, as NASDAQ:BIIB is now trading 2.20% higher at $257.27 as of 2:04 AM New York time. Biogen shares have [From2] 0% over the past 200 days, while the S&P500 Index has added 6.00% during the same time period.
Out of 19 analysts covering Biogen, 14 rate it a Buy, 9 indicate a Hold while 0 suggest a Sell. The highest target is $401 and the lowest is $267 according to Thomson/First Call. The 12-month mean target is $333.47, which means upside potential of 29.62% over the current price.
Sarissa Capital Management Lp had the biggest stake with ownership of 310,000 shares as of q2 2015 for 22.35% of the US equity exposure. Terril Brothers Inc. is another notably bullish investment manager who is possessing 60,311 shares of Biogen or 9.98% of their US equity exposure. Moreover, R. G. Niederhoffer Capital Management Inc have 7.88% of their US equity exposure invested in the company for 5,200 shares. The New York-based fund Healthcor Management L.P. disclosed it had bought a stake worth about 7.15% of the investment manager’s stock portfolio in Biogen. The California-based fund Blue Jay Capital Management Llc is also positive about the stock, possessing 375,000 shares or 7.01% of their US equity exposure.
Biogen (NASDAQ:BIIB) Profile
Biogen Inc. is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
Biogen (NASDAQ:BIIB) traded up 2.20% on 19 June, hitting $257.27. A total of 449,582 shares of the company’s stock traded hands. This is down from average of 1.56 million shares. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The company has a market cap of $53.87 billion and a P/E ratio of 16.13.
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