Biogen Inc. (NASDAQ:BIIB)‘s stock had its “overweight” rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday. They currently have a $386.00 target price on the biotechnology company’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 26.31% from the stock’s current price.
Several other analysts have also issued reports on BIIB. Credit Suisse Group AG set a $322.00 target price on Biogen and gave the stock a “hold” rating in a research note on Sunday, September 18th. Vetr upgraded Biogen from a “sell” rating to a “hold” rating and set a $317.79 price objective for the company in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Morgan Stanley reiterated a “buy” rating and issued a $385.00 price objective on shares of Biogen in a research report on Wednesday, August 3rd. Finally, Leerink Swann boosted their price objective on Biogen from $360.00 to $367.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Biogen presently has a consensus rating of “Buy” and an average price target of $347.34.
Biogen (NASDAQ:BIIB) traded down 0.13% during mid-day trading on Friday, reaching $305.59. 1,525,938 shares of the company traded hands. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The stock has a market capitalization of $66.96 billion, a price-to-earnings ratio of 17.85 and a beta of 0.95. The company’s 50-day moving average is $308.72 and its 200-day moving average is $279.34.
Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The business 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%. Biogen’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.22 earnings per share. Equities analysts predict that Biogen will post $20.08 earnings per share for the current fiscal year.
In related news, CEO George A. Scangos sold 157 shares of the stock in a transaction 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 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 Securities & Exchange Commission, which is available at this link. Also, Director Caroline Dorsa sold 27,570 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total value of $8,656,980.00. Following the sale, the director now directly owns 19,663 shares in the company, valued at $6,174,182. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BIIB. Kings Point Capital Management purchased a new position in Biogen during the second quarter worth $145,000. Signaturefd LLC increased 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. Lakeview Capital Partners LLC purchased a new position in Biogen during the second quarter worth $205,000. BLB&B Advisors LLC purchased a new position in Biogen during the second quarter worth $206,000. Finally, Bienville Capital Management LLC purchased a new position in Biogen during the second quarter worth $207,000. 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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