Biogen (BIIB) Receives a Buy from Oppenheimer

By Austin Angelo

Oppenheimer analyst Jay Olson maintained a Buy rating on Biogen (BIIBResearch Report) yesterday and set a price target of $338.00. The company’s shares closed last Monday at $284.21.

According to TipRanks.com, Olson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.4% and a 35.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as CymaBay Therapeutics, Nektar Therapeutics, and SAGE Therapeutics.

Currently, the analyst consensus on Biogen is a Hold with an average price target of $305.33.

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Biogen’s market cap is currently $51.28B and has a P/E ratio of 10.11. The company has a Price to Book ratio of 3.69.

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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.