Biogen (BIIB) Gets a Hold Rating from William Blair

By Jason Carr

In a report issued on July 8, Matt Phipps from William Blair maintained a Hold rating on Biogen (BIIBResearch Report). The company’s shares closed last Friday at $277.41.

According to TipRanks.com, Phipps is a 4-star analyst with an average return of 14.3% and a 56.6% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aileron Therapeutics, and Autolus Therapeutics.

Biogen has an analyst consensus of Hold, with a price target consensus of $312.16, implying a 12.6% upside from current levels. In a report issued on June 25, Credit Suisse also maintained a Hold rating on the stock with a $270.00 price target.

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Based on Biogen’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.53 billion and net profit of $1.4 billion. In comparison, last year the company earned revenue of $3.49 billion and had a net profit of $1.41 billion.

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Biogen, Inc. is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, 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. The company was founded by Charles Weissmann, Heinz Schaller, Kenneth Murray, Walter Gilbert, and Phillip Allen Sharp in 1978 and is headquartered in Cambridge, MA.