Vetr lowered shares of Biogen Inc. (NASDAQ:BIIB) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning. Vetr currently has $321.54 price objective on the biotechnology company’s stock.
A number of other equities research analysts have also issued reports on the company. BMO Capital Markets reiterated a market perform rating and issued a $304.00 price target on shares of Biogen in a research note on Tuesday, October 4th. RBC Capital Markets restated a buy rating and set a $375.00 price objective on shares of Biogen in a research report on Tuesday, October 4th. Piper Jaffray Cos. set a $333.00 price objective on Biogen and gave the company a hold rating in a research report on Thursday, September 22nd. Bank of America Corp. restated a buy rating and set a $374.00 price objective on shares of Biogen in a research report on Thursday, September 22nd. Finally, HC Wainwright restated a buy rating and set a $360.00 price objective on shares of Biogen in a research report on Tuesday, September 20th. Ten investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $347.34.
Shares of Biogen (NASDAQ:BIIB) opened at 305.59 on Tuesday. Biogen has a 52-week low of $223.02 and a 52-week high of $333.65. The stock has a market capitalization of $66.96 billion, a P/E ratio of 17.85 and a beta of 0.95. The firm has a 50-day moving average price of $308.50 and a 200-day moving average price of $279.69.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $2.79 billion. During the same quarter in the prior year, the business posted $4.22 EPS. Biogen’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts predict that Biogen will post $20.08 EPS for the current year.
In other Biogen news, EVP Adriana Karaboutis sold 262 shares of Biogen stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the transaction, the executive vice president now directly owns 7,579 shares of the company’s stock, valued at $2,364,193.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George A. Scangos sold 157 shares of Biogen 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 completion of the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. raised its position in Biogen by 9.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,909 shares of the biotechnology company’s stock valued at $1,018,000 after buying an additional 338 shares in the last quarter. Howard Hughes Medical Institute purchased a new position in Biogen during the first quarter valued at about $135,000. Massmutual Trust Co. FSB ADV raised its position in Biogen by 6.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,585 shares of the biotechnology company’s stock valued at $673,000 after buying an additional 157 shares in the last quarter. Columbia Partners L L C Investment Management raised its position in Biogen by 0.3% in the first quarter. Columbia Partners L L C Investment Management now owns 9,540 shares of the biotechnology company’s stock valued at $2,483,000 after buying an additional 26 shares in the last quarter. Finally, Provident Investment Management Inc. raised its position in Biogen by 4.9% in the first quarter. Provident Investment Management Inc. now owns 64,899 shares of the biotechnology company’s stock valued at $16,895,000 after buying an additional 3,004 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors and hedge funds.
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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