Wells Fargo Reconfirms Its Outperform Rating on Biogen (NASDAQ:BIIB) Shares Today


Biogen (NASDAQ:BIIB) Rating Reaffirmed

This Morning, Wells Fargo reconfirmed their Outperform rating on Biogen (NASDAQ:BIIB) shares in analysts note issued to clients.

From a total of 14 analysts covering Biogen Idec Inc. (NASDAQ:BIIB) stock, 13 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 65% of the ratings are positive. The highest target price is $450 while the lowest target price is $266. The mean of all analyst targets is $364.36 with a 35.74% above today’s ($280.98) stock price. Biogen Idec Inc. was the topic of 16 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray upgraded shares on November 5 to “Overweight” rating. Robert W. Baird downgraded shares to “Neutral” rating and $316 target share price in a report from a July 27. RBC Capital Markets maintained BIIB stock in a recent report from October 7 with “Outperform” rating. Argus Research maintained the rating on July 27. Argus Research has a “Buy” rating and a $360 price target on shares. Finally, Cowen & Co maintained the stock with “Buy” rating in a report issued on an August 25.

Approximately 427,492 shares of stock traded hands. Biogen Inc (NASDAQ:BIIB) has declined 28.68% since May 1, 2015 and is downtrending. It has underperformed by 25.90% the S&P500.

Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The company has a market cap of $61.72 billion. The Firm is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. It has 18.35 P/E ratio. The Firm develops, makes and markets products designed for the treatment of multiple sclerosis and hemophilia A and B.

According to Zacks Investment Research, “Biogen is a leading biopharmaceutical company engaged in the research, development and marketing of targeted therapies for the treatment of cancer, autoimmune and inflammatory diseases. The company owns industry leading brands for the treatment of multiple sclerosis, next-generation treatments for hemophilia, and a deep clinical pipeline ranging from Alzheimer’s disease, lupus nephritis to neuropathic pain.” Get a free copy of the Zacks research report on Biogen Inc (BIIB).