Vetr upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning. They currently have $343.10 price objective on the biotechnology company’s stock.
Other research analysts have also recently issued reports about the stock. BMO Capital Markets upped their price target on shares of Biogen from $286.00 to $304.00 and gave the stock a market perform rating in a report on Monday, August 1st. Piper Jaffray Cos. restated a neutral rating on shares of Biogen in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $322.00 price target on shares of Biogen and gave the stock a hold rating in a report on Sunday, September 18th. Robert W. Baird restated a positive rating and issued a $284.00 price target (up from $268.00) on shares of Biogen in a report on Monday, August 1st. Finally, HC Wainwright restated a buy rating and issued a $360.00 price target on shares of Biogen in a report on Wednesday, June 8th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Biogen presently has a consensus rating of Buy and an average target price of $347.39.
Biogen (NASDAQ:BIIB) opened at 311.59 on Thursday. Biogen has a one year low of $223.02 and a one year high of $333.65. The stock has a market capitalization of $68.28 billion, a PE ratio of 18.20 and a beta of 0.95. The firm has a 50-day moving average of $309.10 and a 200 day moving average of $278.48.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.52. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.22 earnings per share. On average, equities research analysts anticipate that Biogen will post $20.10 earnings per share for the current fiscal year.
In other Biogen news, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the transaction, the director now directly owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the transaction, the chief executive officer now directly owns 54,779 shares of the company’s stock, valued at $15,338,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Howard Hughes Medical Institute acquired a new position in Biogen during the first quarter worth about $135,000. Kings Point Capital Management acquired a new position in Biogen during the second quarter worth about $145,000. Signaturefd LLC raised its position in Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares in the last quarter. HighPoint Advisor Group LLC acquired a new position in Biogen during the second quarter worth about $252,000. Finally, Lakeview Capital Partners LLC acquired a new position in Biogen during the second quarter worth about $205,000. 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.
To view Vetr’s full report, visit Vetr’s official website.
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