Could This Stock Be the Next Biotech Buyout?
Shares of Reata Pharmaceuticals (NASDAQ: RETA) recently jumped about 54% higher in a single trading session. This biotech stock was already way up this year thanks to the recent approval of its first drug, Skyclaris, in February.
A juicy buyout offer with a steep premium is what sent Reata Pharmaceuticals' stock price through the roof last week. (NASDAQ: BIIB) agreed to buy the drugmaker for $7.3 billion in cash. The offered price represents a 59% premium to the biotech stock's closing price the previous day.
Every time a big drugmaker buys a little one for a steep premium, investors start wondering about which stock might be next to leap higher. Let's have a look at what attracted Biogen to Reata in the first place to make an educated guess about which biotech stock could receive the next big buyout offer.
Source Fool.com
Biogen Inc. Stock
With 41 Buy predictions and 1 Sell predictions Biogen Inc. is one of the favorites of our community.
As a result the target price of 204 € shows a slightly positive potential of 12.52% compared to the current price of 181.3 € for Biogen Inc..
