Biogen Inc (NASDAQ:BIIB) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The firm presently has a $310.17 price objective on the biotechnology company’s stock. Vetr‘s price objective indicates a potential upside of 13.44% from the company’s current price.
Several other research firms also recently weighed in on BIIB. Credit Suisse Group AG restated a “neutral” rating and issued a $312.00 price target on shares of Biogen in a research note on Friday, December 30th. Robert W. Baird restated a “hold” rating on shares of Biogen in a research note on Tuesday, February 7th. HC Wainwright set a $360.00 price target on Biogen and gave the stock a “buy” rating in a research note on Monday, December 12th. Jefferies Group LLC restated a “hold” rating and issued a $313.00 price target on shares of Biogen in a research note on Tuesday, January 24th. Finally, Leerink Swann downgraded Biogen from an “outperform” rating to a “market perform” rating and set a $300.00 price target for the company. in a research note on Thursday, March 16th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and an average target price of $327.74.
Shares of Biogen (NASDAQ:BIIB) traded up 1.62% on Monday, hitting $273.42. 2,747,445 shares of the company traded hands. The stock has a market capitalization of $59.05 billion, a price-to-earnings ratio of 16.15 and a beta of 0.72. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65. The firm’s 50 day moving average price is $284.51 and its 200-day moving average price is $291.46.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.96 by $0.08. Biogen had a return on equity of 38.48% and a net margin of 32.34%. The business earned $2.87 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the company posted $4.50 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts expect that Biogen will post $20.95 earnings per share for the current year.
In other Biogen news, VP Paul J. Clancy sold 9,891 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $291.55, for a total value of $2,883,721.05. Following the sale, the vice president now owns 20,705 shares in the company, valued at $6,036,542.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pangia sold 5,450 shares of the stock in a transaction 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 owns 22,078 shares in the company, valued at approximately $6,521,620.42. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Capital Guardian Trust Co. raised its stake in Biogen by 130.1% in the fourth quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company’s stock worth $102,000 after buying an additional 203 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Biogen during the fourth quarter worth $110,000. Thompson Siegel & Walmsley LLC raised its stake in Biogen by 3.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 408 shares of the biotechnology company’s stock worth $116,000 after buying an additional 12 shares during the last quarter. Capital Analysts LLC raised its stake in Biogen by 1.4% in the fourth quarter. Capital Analysts LLC now owns 423 shares of the biotechnology company’s stock worth $120,000 after buying an additional 6 shares during the last quarter. Finally, Assetmark Inc. raised its stake in Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock worth $130,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 86.97% of the company’s stock.
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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