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Diagnosing the Health of Pharmaceutical Companies in 2Q17

PART:
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Part 8
Diagnosing the Health of Pharmaceutical Companies in 2Q17 PART 8 OF 10

What Drove Biogen Stock in 2Q17?

A look at Biogen

Headquartered in Cambridge, Massachusetts, Biogen Idec (BIIB) is a biopharmaceutical company focused on discovering, developing, manufacturing, and delivering therapies for neurology, oncology, and immunology, as well as rare diseases.

What Drove Biogen Stock in 2Q17?

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Stock price performance

Biogen (BIIB) stock has risen ~0.40% in 2Q17 and ~4.1% year-to-date as of July 7, 2017.

Analyst recommendations

Wall Street analysts estimate that Biogen stock has the potential to rise ~17.1% over the next 12 months. Analyst recommendations show a 12-month target price of $318.60 per share compared to the last price of $271.96 on July 6, 2017.

There are 27 analysts tracking Biogen stock. Of those, 16 analysts are recommending a “buy,” while 11 are recommending a “hold.” None of the analysts have recommended a “sell.” The consensus rating for Biogen stands at 2.2, which represents a “strong buy” for long-term growth investors.

Analysts’ revenue estimates

Biogen’s revenues are mainly driven by its neurology and immuno-oncology products.

Wall Street analyst estimates show revenues of $2.8 billion in 2Q17, a ~3.0% fall compared to 2Q16, and EPS (earnings per share) of $4.51 for the quarter.

To divest the company-specific risk, you can consider the PowerShares Dynamic Biotechnology & Genome ETF (PBE), which holds 4.3% of its total assets in Biogen. PBE also holds 6.7% in Vertex Pharmaceuticals (VRTX), 6.1% in Regeneron Pharmaceuticals (REGN), and 4.9% in BioMarin Pharmaceutical (BMRN).

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