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What Biogen Is Doing that Put It in Good Favor with Analysts

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Analyst recommendations for Biogen

Based on recommendations from 25 broker companies, a Bloomberg survey reported that 62.5% of analysts gave Biogen (BIIB) “buy” recommendations, while 37.5% gave the company “hold” recommendations.

Biogen is currently focused on reducing expenses and creating a leaner structure. Additionally, the company is prioritizing high growth opportunities and geographies for sustained profits. The company plans to restrict its attention to a maximum of eight geographic markets, which will enable higher transparency and accountability.

 

The above table lists the 19 brokerage companies that provided 12-month target prices for Biogen. The consensus 12-month target price for the stock is $342.2, which represents a rise of 17.8% from the stock’s last price of $290.5 on October 14, 2016.

If Biogen manages to surpass this price target, it may also boost the share price of the Health Care Select Sector SPDR Fund (XLV). Biogen makes up about 2.5% of XLV’s total portfolio holdings.

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Recommendations for Biogen’s peers

Based on a Bloomberg survey of 28 analysts, Amgen (AMGN) has received “buy” recommendations from 46.2% of analysts and “hold” recommendations from 53.8% of analysts. No analysts rated Amgen as a “sell.” The consensus 12-month target price for the stock is $190, which represents a rise of 17.4% from the stock’s last price of $161.9 on October 14, 2016.

Based on a Bloomberg survey of 30 analysts, 82.1% of analysts gave Celgene (CELG) “buy” recommendations, 14.3% gave it “hold” recommendations, and 3.6% rated the company as a “sell.” The consensus 12-month target price for the stock is $137.7, which represents a rise of 39.8% from the stock’s last price of $98.5 on October 14, 2016.

Based on a Bloomberg survey of 30 analysts, Gilead Sciences (GILD) received “buy” recommendations from 57.1% of analysts and “hold” recommendations from 42.9% of analysts. The consensus 12-month target price for the stock is $101.29, which represents a rise of 39.2% from the stock’s last price of $72.75 on October 14, 2016.

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