BMO Capital Markets reaffirmed their market perform rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report released on Tuesday. They currently have a $304.00 price target on the biotechnology company’s stock.
A number of other research firms have also issued reports on BIIB. Vetr lowered Biogen from a hold rating to a sell rating and set a $299.76 target price for the company. in a report on Tuesday, August 2nd. Credit Suisse Group AG restated a hold rating and issued a $322.00 target price on shares of Biogen in a report on Wednesday, August 3rd. Piper Jaffray Cos. restated a neutral rating on shares of Biogen in a report on Wednesday, August 3rd. Morgan Stanley restated a buy rating and issued a $385.00 target price on shares of Biogen in a report on Wednesday, August 3rd. Finally, Jefferies Group restated a buy rating and issued a $319.00 target price on shares of Biogen in a report on Thursday, August 4th. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Biogen has an average rating of Buy and an average price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 305.59 on Tuesday. The firm has a market cap of $66.96 billion, a PE ratio of 17.85 and a beta of 0.95. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The firm’s 50 day moving average price is $308.50 and its 200-day moving average price is $279.69.
Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.69 by $0.52. The company earned $2.89 billion during the quarter, compared to analyst estimates of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.22 earnings per share. On average, analysts forecast that Biogen will post $20.08 EPS for the current year.
In other news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $280.00, for a total transaction of $43,960.00. Following the completion of the sale, the chief executive officer now owns 54,779 shares of the company’s stock, valued at $15,338,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Several hedge funds have recently bought and sold shares of BIIB. Ancora Inverness LLC purchased a new stake in Biogen during the first quarter valued at $686,000. Spark Investment Management LLC purchased a new stake in Biogen during the first quarter valued at $1,275,000. Hikari Power Ltd raised its stake in Biogen by 371.4% in the first quarter. Hikari Power Ltd now owns 13,200 shares of the biotechnology company’s stock valued at $3,436,000 after buying an additional 10,400 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its stake in Biogen by 67.0% in the first quarter. Adell Harriman & Carpenter Inc. now owns 7,800 shares of the biotechnology company’s stock valued at $2,030,000 after buying an additional 3,130 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Biogen during the first quarter valued at $49,410,000. 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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