Mizuho Securities Starts Biogen (BIIB) at Neutral

November 7, 2016 4:47 PM EST
Get Alerts BIIB Hot Sheet
Price: $285.30 -2.01%

Rating Summary:
    18 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 31 | New: 25
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Mizuho Securities initiates coverage on Biogen (NASDAQ: BIIB) with a Neutral rating and a price target of $290.00.

Analyst Salim Syed commented, "... we think BIIB is like Rocky....beaten down, but still has guns, muscle and heart."

That said, they are Neutral "predominantly because of a lack of near/medium term potential catalyst flow and uncertainty around mgmt shifts. We also didn’t feel comfortable recommending the stock ahead of Tecfidera’s upcoming litigation and several other more near-term competitor catalysts (e.g. CELG Ozanimod MS data in 1H’17) that could potentially put some pressure on the stock."

For an analyst ratings summary and ratings history on Biogen click here. For more ratings news on Biogen click here.

Shares of Biogen closed at $277.00 yesterday.



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