Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating reissued by research analysts at RBC Capital Markets in a research report issued on Tuesday.
Several other equities research analysts have also recently weighed in on the company. Morgan Stanley reissued a “buy” rating on shares of Biogen in a research note on Thursday, June 30th. Sanford C. Bernstein initiated coverage on Biogen in a research note on Wednesday, June 29th. They issued an “outperform” rating and a $282.00 price target for the company. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price target for the company in a research note on Monday, September 12th. Citigroup Inc. cut Biogen from a “buy” rating to a “neutral” rating and decreased their price target for the company from $345.00 to $295.00 in a research note on Tuesday, June 7th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $333.00 price target (up previously from $293.00) on shares of Biogen in a research note on Tuesday, August 16th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $347.39.
Shares of Biogen (NASDAQ:BIIB) traded down 0.19% during midday trading on Tuesday, reaching $311.00. The company had a trading volume of 364,231 shares. The stock’s 50 day moving average is $309.10 and its 200-day moving average is $278.48. The stock has a market capitalization of $68.15 billion, a PE ratio of 18.17 and a beta of 0.95. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last issued its earnings results 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. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The business earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the firm earned $4.22 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts predict that Biogen will post $20.10 earnings per share for the current fiscal year.
In related news, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the sale, the director now owns 19,663 shares of the company’s stock, valued at $6,174,182. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $280.00, for a total value of $43,960.00. Following the sale, the chief executive officer now directly owns 54,779 shares of the company’s stock, valued at approximately $15,338,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of large investors have recently bought and sold shares of BIIB. Howard Hughes Medical Institute purchased a new stake in shares of Biogen during the first quarter valued at about $135,000. Kings Point Capital Management purchased a new stake in shares of Biogen during the second quarter valued at about $145,000. Signaturefd LLC raised its stake in shares of Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 492 shares during the period. Lakeview Capital Partners LLC purchased a new stake in shares of Biogen during the second quarter valued at about $205,000. Finally, BLB&B Advisors LLC purchased a new stake in shares of Biogen during the second quarter valued at about $206,000. 86.21% of the stock is owned by institutional investors.
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.
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