Bernstein Initiates Coverage on Biogen Inc to Outperform

Bernstein Initiates Coverage on Biogen Inc(NASDAQ:BIIB). The shares have been rated Outperform. The rating by Bernstein was issued on Jun 29, 2016.

In a different note, On Jun 8, 2016, Citigroup said it Maintains its rating on Biogen Inc. In the research note, the firm Lowers the price-target to $345.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 7, 2016, Citigroup said it Downgrades its rating on Biogen Inc. The shares have been rated ‘Neutral’ by the firm. On Apr 21, 2016, Goldman Sachs said it Maintains its rating on Biogen Inc. In the research note, the firm Raises the price-target to $271.00 per share. The shares have been rated ‘Neutral’ by the firm. BMO Capital said it Initiates Coverage on Biogen Inc, according to a research note issued on Apr 5, 2016. The shares have been rated ‘Market Perform’ by the firm.

Biogen Inc (BIIB) made into the market gainers list on Fridays trading session with the shares advancing 1.34% or 3.24 points. Due to strong positive momentum, the stock ended at $245.06, which is also near the day’s high of $246.545. The stock began the session at $242.57 and the volume stood at 14,65,515 shares. The 52-week high of the shares is $412.24 and the 52 week low is $223.0211. The company has a current market capitalization of $53,681 M and it has 21,90,51,490 shares in outstanding.

Biogen Inc(BIIB) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.73B. Analysts had an estimated revenue of $2.75B. Earnings per share were $4.79. Analysts had estimated an EPS of $4.49.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Adam Koppel (EVP, Strategy and Bus. Dev.) sold 555 shares at $290.00 per share price.Also, On Jun 6, 2016, George A Scangos (Chief Executive Officer) sold 842 shares at $290.00 per share price.On Feb 26, 2016, Alfred Sandrock (EVP CMO Neuro & Neurodegenerat) sold 183 shares at $261.90 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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-Hodgkin’s 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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