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
€165.76
0.680%
The stock is an absolute favorite of our community with 31 Buy predictions and no Sell predictions.
With a target price of 185 € there is a slightly positive potential of 11.61% for Biogen Inc. compared to the current price of 165.76 €.
