Biogen Inc Gets a Buy Rating from Credit Suisse

By Ryan Adsit

In a report released yesterday, Alethia Young from Credit Suisse maintained a Buy rating on Biogen Inc (NASDAQ: BIIB), with a price target of $384. The company’s shares closed yesterday at $279.90.

According to TipRanks.com, Young is a 4-star analyst with an average return of 5.8% and a 50.4% success rate. Young covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Ionis Pharmaceuticals Inc, and Alexion Pharmaceuticals.

Currently, the analyst consensus on Biogen Inc is Moderate Buy and the average price target is $379, representing a 35.4% upside.

In a report issued on March 2, BMO Capital also reiterated a Buy rating on the stock with a $393 price target.

Based on Biogen Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $3 billion and GAAP net loss of $297 million. In comparison, last year the company earned revenue of $2.87 billion and had a net profit of $649 million.

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.