HC Wainwright restated their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report released on Wednesday. The brokerage currently has a $360.00 price target on the biotechnology company’s stock.
A number of other analysts also recently issued reports on the company. Vetr raised Biogen from a hold rating to a buy rating and set a $321.54 price objective for the company in a research report on Monday, October 10th. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $386.00 target price on shares of Biogen in a research report on Friday, October 7th. Jefferies Group dropped their target price on Biogen from $323.00 to $316.00 and set a hold rating for the company in a research report on Wednesday, October 5th. BMO Capital Markets reaffirmed a market perform rating and issued a $304.00 target price on shares of Biogen in a research report on Tuesday, October 4th. Finally, RBC Capital Markets reaffirmed a buy rating and issued a $375.00 target price on shares of Biogen in a research report on Tuesday, October 4th. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Biogen currently has an average rating of Buy and an average price target of $347.34.
Shares of Biogen (NASDAQ:BIIB) opened at 290.50 on Wednesday. The stock has a market capitalization of $63.65 billion, a price-to-earnings ratio of 16.97 and a beta of 0.95. The company has a 50-day moving average of $305.97 and a 200-day moving average of $280.96. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.52. The firm earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $4.22 EPS. On average, equities research analysts expect that Biogen will post $20.08 EPS for the current fiscal year.
In related news, CEO George A. Scangos sold 157 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Adriana Karaboutis sold 380 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the transaction, the executive vice president now owns 7,172 shares in the company, valued at $2,244,836. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Causeway Capital Management LLC acquired a new position in Biogen during the second quarter valued at $135,200,000. Primecap Management Co. CA raised its stake in shares of Biogen by 2.8% in the first quarter. Primecap Management Co. CA now owns 16,246,726 shares of the biotechnology company’s stock valued at $4,229,348,000 after buying an additional 436,101 shares in the last quarter. Eaton Vance Management raised its stake in shares of Biogen by 245.1% in the second quarter. Eaton Vance Management now owns 435,620 shares of the biotechnology company’s stock valued at $105,342,000 after buying an additional 309,401 shares in the last quarter. Senator Investment Group LP raised its stake in shares of Biogen by 150.0% in the second quarter. Senator Investment Group LP now owns 500,000 shares of the biotechnology company’s stock valued at $120,910,000 after buying an additional 300,000 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Biogen by 306.5% in the second quarter. Schroder Investment Management Group now owns 365,393 shares of the biotechnology company’s stock valued at $88,360,000 after buying an additional 275,497 shares in the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.
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.
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.