BMO Capital Markets restated their market perform rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report issued on Tuesday morning. The brokerage currently has a $336.00 target price on the biotechnology company’s stock.
Other research analysts have also recently issued reports about the stock. Vetr cut shares of Biogen from a strong-buy rating to a buy rating and set a $313.63 price target on the stock. in a report on Tuesday, November 1st. HC Wainwright restated a buy rating on shares of Biogen in a report on Thursday, October 27th. Cowen and Company restated a buy rating and issued a $368.00 price target on shares of Biogen in a report on Wednesday, October 26th. RBC Capital Markets restated a buy rating and issued a $375.00 price target on shares of Biogen in a report on Tuesday, October 4th. Finally, Piper Jaffray Companies set a $335.00 price target on shares of Biogen and gave the stock a buy rating in a report on Thursday, November 24th. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $332.52.
Shares of Biogen (NASDAQ:BIIB) traded down 0.2096% during trading on Tuesday, hitting $278.3053. 501,314 shares of the stock were exchanged. The stock has a market cap of $60.55 billion, a PE ratio of 15.7395 and a beta of 0.74. Biogen has a 52-week low of $223.02 and a 52-week high of $333.65. The firm has a 50 day moving average of $286.26 and a 200-day moving average of $296.95.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.96 by $0.08. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business posted $4.50 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Biogen will post $20.17 earnings per share for the current fiscal year.
In other news, Director Robert W. Pangia sold 5,450 shares of Biogen stock in a transaction 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 transaction, the director now owns 22,078 shares in the company, valued at approximately $6,521,620.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position 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 in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 worth $1,406,542,000 after buying an additional 50,433 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Biogen by 2.6% in the third quarter. BlackRock Fund Advisors now owns 4,969,337 shares of the biotechnology company’s stock worth $1,555,552,000 after buying an additional 125,890 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Biogen by 0.7% in the second quarter. Alliancebernstein L.P. now owns 3,184,239 shares of the biotechnology company’s stock worth $770,013,000 after buying an additional 21,307 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Biogen by 0.4% in the third quarter. Northern Trust Corp now owns 2,978,479 shares of the biotechnology company’s stock worth $932,354,000 after buying an additional 12,483 shares during the last quarter. 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.