Biogen Inc. (NASDAQ:BIIB) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday. They presently have a $346.47 target price on the biotechnology company’s stock. Vetr‘s target price points to a potential upside of 10.06% from the stock’s current price.
A number of other brokerages have also recently commented on BIIB. Credit Suisse Group AG reissued a “hold” rating and set a $322.00 target price on shares of Biogen in a report on Wednesday, August 3rd. Piper Jaffray Cos. reissued a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Morgan Stanley reaffirmed a “buy” rating and issued a $385.00 price target on shares of Biogen in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $319.00 price target on shares of Biogen in a report on Thursday, August 4th. Finally, Zacks Investment Research raised Biogen from a “hold” rating to a “buy” rating and set a $352.00 price target for the company in a report on Friday, August 12th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $347.55.
Biogen (NASDAQ:BIIB) opened at 314.81 on Wednesday. The company’s 50-day moving average price is $309.62 and its 200-day moving average price is $275.40. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The stock has a market cap of $68.98 billion, a PE ratio of 18.39 and a beta of 0.90.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating 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 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Biogen will post $20.10 EPS for the current fiscal year.
In related news, CEO George A. Scangos sold 157 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was 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 in the company, valued at approximately $15,338,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA boosted its position 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 during the period. Vanguard Group Inc. raised its stake in shares of Biogen by 1.4% in the second quarter. Vanguard Group Inc. now owns 13,544,616 shares of the biotechnology company’s stock worth $3,275,359,000 after buying an additional 182,714 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Biogen by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,816,485 shares of the biotechnology company’s stock worth $1,406,542,000 after buying an additional 50,433 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Biogen by 1.5% in the second quarter. BlackRock Fund Advisors now owns 4,843,447 shares of the biotechnology company’s stock worth $1,171,242,000 after buying an additional 71,709 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Biogen by 0.7% in the second quarter. Alliancebernstein L.P. now owns 3,184,239 shares of the biotechnology company’s stock worth $770,013,000 after buying an additional 21,307 shares in the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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.