Baird Maintains a 'Neutral' on Biogen (NASDAQ: BIIB); Raising Estimates Ahead of Earnings
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Price: $209.83 -0.39%
Rating Summary:
28 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
28 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Baird maintains a 'Neutral' on Biogen (NASDAQ: BIIB) price target raised from $122 to $130.
Analyst, Christopher J. Raymond, said, "Raising Avonex/Tysabri estimates above consensus based on a new MS survey showing potential upside for Tysabri and Avonex. In that we believe strength in BIIB’s core franchises can help drive shares higher near term, we are raising our BIIB price target to $130. However, at the end of the day, BIIB’s premium valuation will depend on upside/downside to BG12 launch expectations, and ALS data. In that we believe a very robust BG12 launch is already priced-in, we remain on the sidelines."
Baird models Q1 EPS at $1.56. Raises FY14 from $8.57 to $8.65 and FY15 from $9.40 to $9.62.
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 $126.54 yesterday.
Analyst, Christopher J. Raymond, said, "Raising Avonex/Tysabri estimates above consensus based on a new MS survey showing potential upside for Tysabri and Avonex. In that we believe strength in BIIB’s core franchises can help drive shares higher near term, we are raising our BIIB price target to $130. However, at the end of the day, BIIB’s premium valuation will depend on upside/downside to BG12 launch expectations, and ALS data. In that we believe a very robust BG12 launch is already priced-in, we remain on the sidelines."
Baird models Q1 EPS at $1.56. Raises FY14 from $8.57 to $8.65 and FY15 from $9.40 to $9.62.
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 $126.54 yesterday.
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