The Biogen Inc. (BIIB) Given a $360.00 Price Target by Leerink Swann Analysts

The Biogen Inc. (BIIB) Given a $360.00 Price Target by Leerink Swann Analysts

Biogen Inc. (NASDAQ:BIIB) has been given a $360.00 price target by equities research analysts at Leerink Swann in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Leerink Swann’s target price would indicate a potential upside of 28.41% from the stock’s previous close.

Several other equities analysts also recently weighed in on BIIB. HC Wainwright reissued a “buy” rating and set a $360.00 price target on shares of Biogen in a research report on Tuesday, September 20th. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $346.47 price target for the company. in a research report on Wednesday, September 21st. Bank of America Corp. reissued a “buy” rating and set a $374.00 price target on shares of Biogen in a research report on Thursday, September 22nd. Piper Jaffray Cos. set a $333.00 price target on Biogen and gave the stock a “hold” rating in a research report on Thursday, September 22nd. Finally, RBC Capital Markets reissued a “buy” rating and set a $375.00 price target on shares of Biogen in a research report on Tuesday, October 4th. Eleven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $336.31.

Biogen (NASDAQ:BIIB) opened at 280.35 on Wednesday. The company’s 50-day moving average price is $288.40 and its 200 day moving average price is $296.11. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65. The firm has a market cap of $61.00 billion, a price-to-earnings ratio of 15.86 and a beta of 0.74.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.22. The company earned $2.96 billion during the quarter, compared to the consensus estimate of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. Biogen’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.48 earnings per share. On average, equities analysts expect that Biogen will post $20.18 earnings per share for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in Biogen by 7.4% in the second quarter. LS Investment Advisors LLC now owns 6,190 shares of the biotechnology company’s stock worth $1,497,000 after buying an additional 425 shares during the period. Checchi Capital Advisers LLC increased its stake in Biogen by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the biotechnology company’s stock worth $331,000 after buying an additional 56 shares during the period. Parkwood LLC purchased a new stake in Biogen during the second quarter worth $3,251,000. Meeder Asset Management Inc. increased its stake in Biogen by 10.6% in the second quarter. Meeder Asset Management Inc. now owns 6,433 shares of the biotechnology company’s stock worth $1,556,000 after buying an additional 619 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Biogen during the second quarter worth $26,713,000. Hedge funds and other institutional investors own 86.35% of the company’s stock.

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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