investing

The Best Stock in Massachusetts: Biogen

We analyzed publicly traded companies based in the Bay State to identify the best stock in Massachusetts to buy now.

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.

Most Popular

Senate Passes $3,000 Child Tax Credit for 2021
Coronavirus and Your Money

Senate Passes $3,000 Child Tax Credit for 2021

The provision would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by th…
March 6, 2021
Senate Passes Bill with More "Targeted" Stimulus Payments
Coronavirus and Your Money

Senate Passes Bill with More "Targeted" Stimulus Payments

The Senate finally passes the $1.9 trillion COVID-relief bill. But fewer people will get a third stimulus check under the Senate version than under th…
March 6, 2021
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021

Recommended

Bonds: 10 Things You Need to Know
Investing for Income

Bonds: 10 Things You Need to Know

Bonds can be more complex than stocks, but it's not hard to become a knowledgeable fixed-income investor.
July 22, 2020
Why I Like Ginnie Mae Funds Now
Investing for Income

Why I Like Ginnie Mae Funds Now

A portfolio of mortgages should retain their value better than ordinary bonds if interest rates rise.
February 28, 2021
2 Top-Tier T. Rowe Price Mutual Funds
mutual funds

2 Top-Tier T. Rowe Price Mutual Funds

T. Rowe Price's mutual funds typically stand out among their peers, but these two selections provide elite equity and bond exposure for this point in …
February 24, 2021
How Green Are Your Bonds?
Becoming an Investor

How Green Are Your Bonds?

Fixed-income investors can make an environmental impact, too.
February 23, 2021