Biogen (BIIB) : Analyst Rating Update

Biogen (BIIB) : 18 analysts are covering Biogen (BIIB) and their average rating on the stock is 1.75, which is read as a Buy. 10 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Biogen (BIIB) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 6 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Biogen (BIIB) : The consensus price target for Biogen (BIIB) is $354.8 for the short term with a standard deviation of $50.9. The most optimist securities analyst among the 15 who monitor the stock believes that the stock can reach $450, however, the pessimist price target for the company is $268.

Biogen (NASDAQ:BIIB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $241.64 and $240.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $247.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $247.48, notching a gain of 2.25% for the day. The total traded volume was 1,750,938 . The stock had closed at $242.03 on the previous day.

Also, Bernstein initiates coverage on Biogen (NASDAQ:BIIB). The current rating of the shares is Outperform, according to the research report released by the firm. The rating by the firm was issued on June 29, 2016. The company shares have dropped -39.14% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $420.99 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $255.33 and the 200 Day Moving Average price is recorded at $265.90.

Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. The Company develops, manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Companys marketed products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, FAMPYRA for multiple sclerosis (MS), ALPROLIX for hemophilia B, and ELOCTATE for hemophilia A, among others. It also collaborates on the development and commercialization of RITUXAN (rituximab), which is a monoclonal antibody for the treatment of non-Hodgkins lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.

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