Cantor Fitzgerald set a $293.00 price target on Biogen Inc. (NASDAQ:BIIB) in a report released on Thursday. The brokerage currently has a hold rating on the biotechnology company’s stock.
Several other research analysts have also recently commented on the company. Morgan Stanley increased their price target on Biogen to $369.00 in a research report on Friday. Credit Suisse Group set a $314.00 price objective on Biogen and gave the company a hold rating in a research note on Tuesday. BMO Capital Markets restated a market perform rating and issued a $336.00 price objective on shares of Biogen in a research note on Tuesday. Jefferies Group LLC restated a hold rating and issued a $313.00 price objective on shares of Biogen in a research note on Tuesday. Finally, Leerink Swann set a $360.00 price objective on Biogen and gave the company a buy rating in a research note on Wednesday, January 18th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $332.52.
Shares of Biogen (NASDAQ:BIIB) traded down 0.26% during mid-day trading on Thursday, hitting $278.17. The stock had a trading volume of 756,766 shares. The stock has a 50 day moving average of $286.26 and a 200-day moving average of $296.95. The stock has a market capitalization of $60.52 billion, a P/E ratio of 15.73 and a beta of 0.74. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 26th. The biotechnology company reported $5.04 EPS for the quarter, beating the consensus estimate of $4.96 by $0.08. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The firm earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the firm posted $4.50 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that Biogen will post $20.17 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 dated 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 completion of the transaction, the director now owns 22,078 shares in the company, valued at approximately $6,521,620.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in BIIB. Norway Savings Bank bought a new position in Biogen during the fourth quarter worth about $484,000. REDW Stanley Financial Advisors LLC bought a new position in Biogen during the fourth quarter worth about $405,000. Massey Quick & Co. LLC bought a new position in Biogen during the fourth quarter worth about $142,000. Wrapmanager Inc. increased its position in Biogen by 4.8% in the fourth quarter. Wrapmanager Inc. now owns 5,129 shares of the biotechnology company’s stock worth $1,454,000 after buying an additional 237 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in Biogen during the fourth quarter worth about $67,011,000. Institutional investors and hedge funds own 88.08% of the company’s stock.
Biogen Company Profile
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.