Biogen Inc Gets a Hold Rating from BMO Capital

By Ryan Adsit

In a report released yesterday, Ian Somaiya from BMO Capital reiterated a Hold rating on Biogen Inc (NASDAQ: BIIB), with a price target of $318. The company’s shares closed yesterday at $282.65.

According to TipRanks.com, Somaiya is a 5-star analyst with an average return of 13.0% and a 59.3% success rate. Somaiya covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Aeglea Biotherapeutics Inc, and Corcept Therapeutics Inc.

Currently, the analyst consensus on Biogen Inc is Moderate Buy and the average price target is $323.53, representing a 14.5% upside.

In a report issued on July 11, Morgan Stanley also maintained a Hold rating on the stock with a $301 price target.

Biogen Inc’s market cap is currently $59.95B and has a P/E ratio of 17.73. The company has a book value ratio of 5.2230.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BIIB in relation to earlier this year. Most recently, in May 2017, Alexander Denner, a Director at BIIB bought 73,858 shares for a total of $20,569,476.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Biogen, Inc. is a global biotechnology company, which focuses on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. Its products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, and FAMPYRA for multiple sclerosis, ALPROLIX for hemophilia B and ELOCTATE for hemophilia A.