Jefferies Maintains a 'Buy' on Biogen (BIIB) on Strong Q2; Adjusting Numbers

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July 25, 2012 10:05 AM EDT
Get Alerts BIIB Hot Sheet
Price: $209.83 -0.39%

Rating Summary:
    28 Buy, 15 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Buy' on Biogen (NASDAQ: BIIB) price target of $164.00 (from $154.00).

Analyst, Thomas Wei, said, "Strong 2Q12 results were driven by a surprise in Avonex upside. Tysabri sales were impacted by factors which we see as non-material to underlying growth, and we remain encouraged by strong positive Tysabri trends in new patient adds (+2,400 vs +1,900 in 1Q) with modest discontinuations and continued growth in TOUCH forms."

FY12 lowered from $6.16 to $5.68 and FY13 from $6.99 to $6.52.

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 $139.48 yesterday.

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