Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued to investors on Wednesday. They presently have a $360.00 price target on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 20.68% from the company’s current price.
A number of other equities research analysts have also recently commented on BIIB. Vetr cut shares of Biogen from a “hold” rating to a “sell” rating and set a $265.77 price target for the company. in a report on Monday, July 25th. BMO Capital Markets raised 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. Finally, 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. 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’s stock. The stock currently has an average rating of “Buy” and an average price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 298.30 on Wednesday. The company has a market cap of $65.36 billion, a PE ratio of 17.43 and a beta of 0.95. The stock has a 50 day moving average of $307.62 and a 200-day moving average of $280.51. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share 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 business earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the firm earned $4.22 earnings per share. Biogen’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts predict that Biogen will post $20.08 earnings per share for the current 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 transaction, the chief executive officer now owns 54,779 shares of the company’s stock, valued at $15,338,120. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Adriana Karaboutis sold 262 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total transaction of $81,728.28. Following the transaction, the executive vice president now directly owns 7,579 shares of the company’s stock, valued at approximately $2,364,193.26. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Strs Ohio boosted its position in shares of Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock valued at $73,337,000 after buying an additional 29,114 shares in the last quarter. Boston Advisors LLC boosted its position in shares of Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock valued at $30,795,000 after buying an additional 121,866 shares in the last quarter. Artemis Investment Management LLP boosted its position in shares of Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock valued at $13,342,000 after buying an additional 37,015 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock valued at $26,497,000 after buying an additional 51,375 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Biogen during the first quarter valued at approximately $33,233,000. 86.21% of the stock is owned by institutional investors.
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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