Baird Downgrades Biogen (BIIB) to Neutral; Diminished Growth Prospects
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Biogen's (BIIB) Decline Seen as 'Overreaction' at Deutsche Bank
July 24, 2015 3:36 PM EDTDeutsche Bank maintained a Buy rating on Biogen (NASDAQ: BIIB) with a price target of $460. Shares declined after Biogen reported Q2 results and cut full-year guidance. In the view of analyst Robyn Karnauskas, the decline was an "overreaction," though she agrees with sentiment.
"The disappointing run of BIIB continued in Q215 as the co substantially revised 2015 FY guidance due to weaker outlook for Tecfidera.... More
Biogen (BIIB) Trading at 'Pharma-Like' Multiple, Cowen Says
July 24, 2015 1:04 PM EDTCowen analyst Eric Schmidt reiterated his Outperform rating and $494 price target on Biogen (NASDAQ: BIIB), with shares down nearly 20% on disappointing Q2 results and outlook. Schmidt maintained his bullish view, saying the stock is trading at a 'pharma-like' multiple.
Schmidt commented,... More
Slowing Tecfidera Sales Increases Biogen's (BIIB) M&A Risk - Moody's
July 24, 2015 11:55 AM EDTMoody's Investors Service commented that slowing sales of Tecfidera, the largest product of Biogen (NASDAQ: BIIB) increases the event risk of acquisitions. That said, there is currently no effect on Biogen's Baa1 senior unsecured rating or stable rating outlook based on strong financial flexibility.
... MoreBMO Capital Downgrades Biogen (BIIB) to Market Perform
July 24, 2015 11:42 AM EDT(Updated - July 24, 2015 11:43 AM EDT)
BMO Capital downgraded Biogen (NASDAQ: BIIB) from Outperform to Market Perform with a price target of $360 (from $511) after the company posted disappointing Q2 results and outlook.
Analyst Jim Birchenough commented, "With more dramatic than expected slowing of TECFIDERA... More
Biogen (BIIB) Tops Q2 EPS by 12c; Cuts FY15 Revenue Growth, EPS Outlook
July 24, 2015 6:50 AM EDT(Updated - July 24, 2015 6:51 AM EDT)
Biogen (Nasdaq: BIIB) reported Q2 adjusted EPS of $4.22, which was $0.12 better than the analyst estimate of $4.10. Revenue for the quarter came in at $2.59 billion versus the consensus estimate of $2.71 billion.
Neurology Highlights
In April 2015, the U.S. Food and Drug Administration accepted for review the Biologics License Application for ZINBRYTA for the treatment of relapsing forms of multiple sclerosis. ZINBRYTA is being jointly developed by Biogen and... More