December 15th, 2015

Stock Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen Announces Collaboration with University of Pennsylvania on Multiple Gene Therapy Programs

[Business Wire] – Biogen today announced a broad collaboration and alliance with the University of Pennsylvania to advance gene therapy and gene editing technologies. The expansive research and translational development collaboration has multiple objectives, but will primarily focus on the development of therapeutic approaches that target the eye, skeletal muscle and the central nervous system . Read more on this. Biogen Inc. (BIIB) , currently valued at $57.62B, opened this morning at $263.03. Looking at the equity, the company’s one day range is $262.60 to $265.77 with its 52-week range being $242.07 to $420.99. Priced at 13.95x this year’s forecasted earnings, BIIB shares are relatively expensive compared to the industry’s 5.38x forward p/e ratio. According to a consensus of 21 analysts, the earnings estimate of $4.66 per share would be $0.44 better than the year-ago quarter and a $0.06 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $18.83 would be a $1.82 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.78 Billion. If realized, that would be a 7.34% increase over the year-ago quarter. Recently, Citigroup Initiated BIIB at Buy (Feb 25, 2016). Previously, Credit Suisse Initiated BIIB at to Neutral. When considering if perhaps the stock is under or overvalued, the average price target is $345.50, which is 31.35% above where the stock opened this morning. See more in (NASDAQ:BIIB) Similar Articles: Company Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen to spin off hemophilia drug business into a public company Company Update (NASDAQ:BIIB): Biogen, AbbVie multiple sclerosis drug wins EU green light Market Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen Appoints Michael Ehlers Executive Vice President, Research and Development
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