Biogen (BIIB, Financial), a leading biotechnology company, has received continued attention from RBC Capital, with analyst Brian Abrahams reiterating an "Outperform" rating for the stock. This decision underscores the firm's belief in Biogen's potential despite recent adjustments.
In a recent update, RBC Capital has adjusted Biogen's price target from $217.00 to $205.00 USD. This represents a decrease of approximately 5.53%, reflecting changing market conditions and company evaluations.
The maintained "Outperform" rating suggests that Biogen (BIIB, Financial) is still anticipated to perform better than the overall market and deliver attractive returns, despite the revised price target. Investors will closely monitor Biogen's performance following this update from RBC Capital.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 29 analysts, the average target price for Biogen Inc (BIIB, Financial) is $180.15 with a high estimate of $300.00 and a low estimate of $115.00. The average target implies an upside of 45.99% from the current price of $123.40. More detailed estimate data can be found on the Biogen Inc (BIIB) Forecast page.
Based on the consensus recommendation from 37 brokerage firms, Biogen Inc's (BIIB, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Biogen Inc (BIIB, Financial) in one year is $211.68, suggesting a upside of 71.54% from the current price of $123.4. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Biogen Inc (BIIB) Summary page.
