Why Biogen Stock Got Mashed on Monday
Healthcare company (NASDAQ: BIIB) wasn't looking very healthy on the stock market on Monday. Investors traded out of its shares after learning that the company plans to book a hefty charge in its first quarter, which will directly affect its bottom line. By the end of the day, Biogen's stock had lost nearly 3% of its value.
Before market open, Biogen divulged in a regulatory filing that it expects to record $34 million in pre-tax expenses in its first quarter of this year. These consist of in-process research and development costs, as well as upfront and milestone payments.
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Source Fool.com
Biogen Inc. Stock
€151.32
-2.720%
With 29 Buy predictions and not a single Sell prediction Biogen Inc. is an absolute favorite of our community.
As a result the target price of 181 € shows a slightly positive potential of 19.61% compared to the current price of 151.32 € for Biogen Inc..
