Analyst Price Target Update on Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB): According to 15 Analysts, The short term target price has been estimated at $ 356.4.The target price could deviate by a maximum of $52.27 from the forecast price. In the near term, the target price could hit a high of $450 and a low of $ 268.

Many analysts have stated their opinion on the company shares. Brokerage firm Citigroup maintains its rating on Biogen (NASDAQ:BIIB). As per the latest information, the brokerage house lowers the price target to $295 per share from a prior target of $345. The shares have been rated Buy. The rating by the firm was issued on June 8, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The officer (EVP, Strategy and Bus. Dev.), of Biogen Inc., Koppel Adam had unloaded 555 shares at $290 per share in a transaction on June 6, 2016. The total value of transaction was $160,950. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Biogen (NASDAQ:BIIB) stock ended Monday session in the red zone in a volatile trading. The stock closed down 1.78 points or 0.72% at $244.35 with 1,628,246 shares getting traded. Post opening the session at $245.76, the shares hit an intraday low of $244.04 and an intraday high of $248.4 and the price was in this range throughout the day. The company has a market cap of $53,525 million and the number of outstanding shares have been calculated to be 219,051,490 shares. The 52-week high of Biogen (NASDAQ:BIIB) is $420.99 and the 52-week low is $242.07.

Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. The Company develops, manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Companys marketed products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, FAMPYRA for multiple sclerosis (MS), ALPROLIX for hemophilia B, and ELOCTATE for hemophilia A, among others. It also collaborates on the development and commercialization of RITUXAN (rituximab), which is a monoclonal antibody for the treatment of non-Hodgkins lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.

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