Loading...
Loading...
In a report published Tuesday, Deutsche Bank analyst Robyn Karnauskas reiterated a Buy rating on Biogen Idec
BIIB, and raised the price target from $170.00 to $240.00.
In the report, Karnauskas noted, “Raising TP as we feel more confident w/ Tecfidera launch on positive doc checks & strong scripts. Based on doc checks we expect hemophilia launch would also beat expectations. We expect a stable BIIB base biz due to stablization of Avonex franchise & continuous Rituxan strength. The company would likely share capital allocation plans soon which could provide upside. Street is not modeling share-buybacks. We model BIIB returning ~50% of net income (in line with peers) & see BIIB at $254/sh on PE (15x to ‘17 EPS and 8% disc rate). BIIB bought back $2B worth shares in 2010.”
Biogen Idec closed on Monday at $215.20.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in