Vetr upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a hold rating to a buy rating in a research report released on Monday. Vetr currently has $321.54 price target on the biotechnology company’s stock.
Several other equities analysts have also recently commented on the company. JPMorgan Chase & Co. reiterated an overweight rating and set a $386.00 target price on shares of Biogen in a research note on Friday, October 7th. Jefferies Group reduced their target price on Biogen from $323.00 to $316.00 and set a hold rating for the company in a research note on Wednesday, October 5th. BMO Capital Markets reiterated a market perform rating and set a $304.00 target price on shares of Biogen in a research note on Tuesday, October 4th. RBC Capital Markets reiterated a buy rating and set a $375.00 target price on shares of Biogen in a research note on Tuesday, October 4th. Finally, Piper Jaffray Cos. set a $333.00 price target on Biogen and gave the company a hold rating in a research report on Thursday, September 22nd. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $347.34.
Shares of Biogen (NASDAQ:BIIB) opened at 291.88 on Monday. The firm has a market cap of $63.96 billion, a PE ratio of 17.05 and a beta of 0.95. The firm’s 50-day moving average is $306.87 and its 200-day moving average is $280.59. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The company earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.22 EPS. Equities analysts expect that Biogen will post $20.08 earnings per share for the current fiscal year.
In other news, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $280.00, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Large investors have recently bought and sold shares of the company. Kings Point Capital Management purchased a new stake in Biogen during the second quarter worth $145,000. Signaturefd LLC increased its stake 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 during the period. Canandaigua National Bank & Trust Co. purchased a new stake in Biogen during the third quarter worth $203,000. Lakeview Capital Partners LLC purchased a new stake in Biogen during the second quarter worth $205,000. Finally, BLB&B Advisors LLC purchased a new stake in Biogen during the second quarter worth $206,000. 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.
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.