We scoured the nation to identify the best stock in every state. Biogen (symbol BIIB) is the publicly traded company we picked in Massachusetts. The company headquarters is located in Cambridge.
But CFRA analyst Jeffrey Loo believes Biogen is positioned to maintain a leading share in an expanding and diverse market for MS treatments. He projects a slight uptick in revenues from Biogen’s flagship MS drug, Tecfidera, to $4.13 billion this year, up from $3.97 billion in 2016. And Morningstar analyst Karen Andersen has high hopes for Spinraza, a drug aimed at treating spinal muscular atrophy, following recent approvals from the U.S. Food and Drug Administration and the European Union. She sees annual sales of the drug hitting $2 billion by 2020. CFRA’s Loo projects a 23% gain in earnings per share for Biogen in 2017, followed by a 9% increase in 2018. Shares trade at just 13 times Loo’s 2017 earnings estimate, making the stock a good value compared with peers. His 12-month price target of $387 would put Biogen’s shares in line with other biotech firms, says Loo, trading at 18.5 times earnings. That implies a 38% bump from the stock’s current price.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
-
Stock Market Today: Stocks Rally Despite Rising Geopolitical TensionThe main indexes were mixed on Tuesday but closed well off their lows after an early flight to safety.
-
What's at Stake for Alphabet as DOJ Eyes Google's ChromeAlphabet is higher Tuesday even as antitrust officials at the DOJ support forcing Google to sell its popular web browser. Here's what you need to know.
-
Why Is Warren Buffett Selling So Much Stock?Berkshire Hathaway is dumping equities, hoarding cash and making market participants nervous.
-
If You'd Put $1,000 Into Google Stock 20 Years Ago, Here's What You'd Have TodayGoogle parent Alphabet has been a market-beating machine for ages.
-
Stock Market Today: Stocks Retreat Ahead of Nvidia EarningsMarkets lost ground on light volume Wednesday as traders keyed on AI bellwether Nvidia earnings after the close.
-
Stock Market Today: Stocks Edge Higher With Nvidia Earnings in FocusNvidia stock gained ground ahead of tomorrow's after-the-close earnings event, while Super Micro Computer got hit by a short seller report.
-
Stock Market Today: Dow Hits New Record Closing HighThe Nasdaq Composite and S&P 500 finished in the red as semiconductor stocks struggled.
-
Stock Market Today: Stocks Pop After Powell's Jackson Hole SpeechFed Chair Powell's Jackson Hole speech struck a dovish tone which sent stocks soaring Friday.
-
Stock Market Today: Stocks Drop Ahead of Powell's Jackson Hole SpeechSentiment turned cautious ahead of Fed Chair Powell's highly anticipated speech Friday at the Jackson Hole Economic Symposium.
-
Stock Market Today: Stocks Rise After Jobs Data Lifts Rate-Cut OddsPreliminary data from the Bureau of Labor Statistics shows job growth was lower than previously estimated.
