Goldman Sachs Removes 'Sell' Rating from Biogen (BIIB)
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Price: $214.35 --0%
Rating Summary:
28 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
28 Buy, 15 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
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Goldman Sachs upgraded Biogen (NASDAQ: BIIB) from Sell to Neutral, citing the unexpected success of key pipeline drug BG-12. The firm raised their price target from $52 to $109.
The analyst said the drug, "meaningfully strengthens the sustainability of BIIB’s core multiple sclerosis (MS) franchise."
Goldman is now assuming a base case of $2 billion in sales for BG-12 by 2015, however the drug could have potential between $1bn-$4bn depending on how the competitive landscape evolves.
For more ratings news on Biogen click here and for the rating history of Biogen click here.
Shares of Biogen closed at $99.70 yesterday.
The analyst said the drug, "meaningfully strengthens the sustainability of BIIB’s core multiple sclerosis (MS) franchise."
Goldman is now assuming a base case of $2 billion in sales for BG-12 by 2015, however the drug could have potential between $1bn-$4bn depending on how the competitive landscape evolves.
For more ratings news on Biogen click here and for the rating history of Biogen click here.
Shares of Biogen closed at $99.70 yesterday.
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