Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Biogen's stock shows potential despite forecasted revenue dip, says Morgan Stanley

EditorAmbhini Aishwarya
Published 10/12/2023, 01:42 AM
Updated 10/12/2023, 01:42 AM
© Reuters.

Morgan Stanley has maintained an Overweight recommendation on Biogen (NASDAQ:BIIB) as of Wednesday this week, with a one-year price target averaging at $340.33. This indicates a potential upside of 28.84% from the recent closing price of $264.14.

The firm's annual revenue is forecasted to decrease by 4.08% to reach $9,565MM, while the non-GAAP EPS is projected at 15.98. Despite this anticipated dip in revenue, total shares have risen by 0.45% to reach 138,519K in the last quarter, suggesting a bullish outlook with a put/call ratio of 0.77.

Institutional ownership saw a slight decrease, but major shareholders remain committed to the company. These include Primecap Management, Vanguard PRIMECAP Fund Investor Shares, Wellington Management Group, Vanguard Health Care Fund Investor Shares, and Vanguard Total Stock Market Index Fund Investor Shares.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.