Company Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen’s Investigational Alzheimer’s Disease Treatment Aducanumab Accepted into European Medicines Agency’s PRIME Program

[Business Wire] – Today Biogen announced that aducanumab, its investigational treatment for early Alzheimer’s disease , was accepted into the European Medicines Agency’s PRIority MEdicines program. Read more on this. Biogen Inc. (BIIB) , valued at $62.93B, opened this morning at $287.97. During the trading session, BIIB traded between $286.14 to $289.86 with a trailing 52-week range being $242.07 to $420.99. BIIB shares are currently priced at 15.00x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -0.14x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $4.68 per share, which would be $0.46 better than the year-ago quarter and a $0.07 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $18.85 would be a $1.84 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 $2.79 Billion. If realized, that would be a 7.72% 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 19.98% above where the stock opened this morning. See more in (NASDAQ:BIIB) Similar Articles: Stock Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen Announces Collaboration with University of Pennsylvania on Multiple Gene Therapy Programs Company Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen to spin off hemophilia drug business into a public company Market Update: Biogen Idec Inc (NASDAQ:BIIB) – Biogen Appoints Michael Ehlers Executive Vice President, Research and Development
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