Biogen Inc. (NASDAQ:BIIB) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday. They currently have a $346.47 price objective on the biotechnology company’s stock. Vetr‘s price target suggests a potential upside of 10.06% from the company’s current price.
A number of other equities analysts have also commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $360.00 price objective on shares of Biogen in a research note on Tuesday. Credit Suisse Group AG set a $322.00 price objective on shares of Biogen and gave the stock a “hold” rating in a research note on Sunday, September 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $386.00 price objective on shares of Biogen in a research note on Friday, September 16th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Biogen in a research note on Friday, September 16th. Finally, Jefferies Group lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $323.00 price objective for the company. in a research note on Tuesday, September 6th. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Biogen presently has a consensus rating of “Buy” and a consensus price target of $347.55.
Shares of Biogen (NASDAQ:BIIB) opened at 314.81 on Wednesday. The company’s 50-day moving average is $309.62 and its 200-day moving average is $275.40. The stock has a market capitalization of $68.98 billion, a PE ratio of 18.39 and a beta of 0.90. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm earned $2.89 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the business posted $4.22 EPS. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts expect that Biogen will post $20.10 earnings per share for the current fiscal year.
In related news, CEO George A. Scangos sold 157 shares of the business’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 directly owns 54,779 shares of the company’s stock, valued at $15,338,120. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Causeway Capital Management LLC purchased a new position in shares of Biogen during the second quarter worth about $135,200,000. 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 worth $4,229,348,000 after buying an additional 436,101 shares in the last quarter. Eaton Vance Management boosted its position 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 worth $105,342,000 after buying an additional 309,401 shares in the last quarter. Senator Investment Group LP boosted its position 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 worth $120,910,000 after buying an additional 300,000 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position 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 worth $88,360,000 after buying an additional 275,497 shares in the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.
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.
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