HC Wainwright restated their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report released on Tuesday morning. The firm currently has a $360.00 price target on the biotechnology company’s stock.
Other equities analysts have also issued research reports about the stock. Jefferies Group restated a buy rating on shares of Biogen in a report on Sunday, May 29th. Vetr downgraded shares of Biogen from a hold rating to a sell rating and set a $265.77 price target for the company. in a research note on Monday, July 25th. BMO Capital Markets lifted their price target on shares of Biogen from $286.00 to $304.00 and gave the company a market perform rating in a research note on Monday, August 1st. Piper Jaffray Cos. reaffirmed a neutral rating on shares of Biogen in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG set a $322.00 price target on shares of Biogen and gave the company a hold rating in a research note on Sunday, September 18th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $347.55.
Biogen (NASDAQ:BIIB) opened at 312.58 on Tuesday. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65. The firm has a market capitalization of $68.49 billion, a P/E ratio of 18.26 and a beta of 0.90. The stock’s 50 day moving average is $309.56 and its 200-day moving average is $275.71.
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 consensus estimate of $4.69 by $0.52. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. Biogen’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.22 earnings per share. Analysts forecast that Biogen will post $20.10 EPS for the current year.
In other news, CEO George A. Scangos sold 157 shares of the 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 transaction, the chief executive officer now owns 54,779 shares of the company’s stock, valued at approximately $15,338,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. acquired a new position in Biogen during the first quarter valued at approximately $1,272,000. Commonwealth Equity Services Inc raised its position in Biogen by 5.3% in the first quarter. Commonwealth Equity Services Inc now owns 31,734 shares of the biotechnology company’s stock valued at $8,261,000 after buying an additional 1,599 shares in the last quarter. Arvest Bank Trust Division raised its position in Biogen by 2.5% in the first quarter. Arvest Bank Trust Division now owns 87,689 shares of the biotechnology company’s stock valued at $22,827,000 after buying an additional 2,171 shares in the last quarter. Glenmede Trust Co. NA raised its position in Biogen by 30.5% in the first quarter. Glenmede Trust Co. NA now owns 336,208 shares of the biotechnology company’s stock valued at $87,521,000 after buying an additional 78,544 shares in the last quarter. Finally, Chesley Taft & Associates LLC raised its position in Biogen by 3.6% in the first quarter. Chesley Taft & Associates LLC now owns 6,562 shares of the biotechnology company’s stock valued at $1,708,000 after buying an additional 230 shares in the last quarter. 86.21% of the stock is currently 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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