The Biogen Inc. (BIIB) PT Set at $335.00 by Piper Jaffray Cos.

The Biogen Inc. (BIIB) PT Set at $335.00 by Piper Jaffray Cos.

Biogen Inc. (NASDAQ:BIIB) received a $335.00 price target from analysts at Piper Jaffray Cos. in a report released on Tuesday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Piper Jaffray Cos.’s price objective points to a potential upside of 18.12% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $343.10 price objective for the company in a research note on Thursday, September 29th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $386.00 price objective on shares of Biogen in a research note on Friday, October 7th. Jefferies Group reissued a “hold” rating and set a $312.00 price objective on shares of Biogen in a research note on Sunday, January 8th. Raymond James Financial Inc. lifted their price objective on Biogen from $375.00 to $386.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 29th. Finally, Robert W. Baird reissued a “neutral” rating and set a $284.00 price objective on shares of Biogen in a research note on Saturday, November 26th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $336.67.

Shares of Biogen (NASDAQ:BIIB) opened at 283.61 on Tuesday. The firm has a 50 day moving average price of $288.82 and a 200-day moving average price of $296.22. Biogen has a 52-week low of $223.02 and a 52-week high of $333.65. The company has a market cap of $61.71 billion, a price-to-earnings ratio of 16.04 and a beta of 0.74.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, topping the Zacks’ consensus estimate of $4.97 by $0.22. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The firm earned $2.96 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the company earned $4.48 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts anticipate that Biogen will post $20.18 earnings per share for the current year.

In other Biogen news, Director Robert W. Pangia sold 5,450 shares of Biogen stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $295.39, for a total transaction of $1,609,875.50. Following the sale, the director now directly owns 22,078 shares of the company’s stock, valued at approximately $6,521,620.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.32% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in Biogen by 19.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,610,028 shares of the biotechnology company’s stock valued at $2,382,167,000 after buying an additional 1,243,876 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Biogen by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,816,485 shares of the biotechnology company’s stock valued at $1,406,542,000 after buying an additional 50,433 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Biogen by 2.6% in the third quarter. BlackRock Fund Advisors now owns 4,969,337 shares of the biotechnology company’s stock valued at $1,555,552,000 after buying an additional 125,890 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Biogen by 0.7% in the second quarter. Alliancebernstein L.P. now owns 3,184,239 shares of the biotechnology company’s stock valued at $770,013,000 after buying an additional 21,307 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Biogen by 0.4% in the third quarter. Northern Trust Corp now owns 2,978,479 shares of the biotechnology company’s stock valued at $932,354,000 after buying an additional 12,483 shares during the last quarter. 86.35% of the stock is currently owned by institutional investors and hedge funds.

About Biogen

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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