Vetr lowered shares of Biogen Inc. (NASDAQ:BIIB) from a strong-buy rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $311.67 target price on the biotechnology company’s stock.
BIIB has been the subject of a number of other research reports. Sanford C. Bernstein reissued an outperform rating and issued a $310.00 target price on shares of Biogen in a report on Friday, February 24th. Leerink Swann set a $300.00 target price on Biogen and gave the company a hold rating in a report on Monday, April 3rd. Cowen and Company reissued a buy rating and issued a $338.00 target price on shares of Biogen in a report on Tuesday, April 25th. Nomura started coverage on Biogen in a report on Wednesday, March 1st. They issued a neutral rating for the company. Finally, TheStreet raised Biogen from a c+ rating to a b- rating in a report on Tuesday, February 21st. Twelve research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $329.94.
Shares of Biogen (BIIB) opened at 279.81 on Wednesday. The stock has a market capitalization of $59.35 billion, a PE ratio of 17.53 and a beta of 0.83. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The stock has a 50 day moving average of $256.84 and a 200-day moving average of $275.20.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.23. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter last year, the company earned $4.79 earnings per share. Biogen’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts expect that Biogen will post $20.46 EPS for the current year.
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In other news, VP Paul J. Clancy sold 9,892 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $290.00, for a total transaction of $2,868,680.00. Following the completion of the sale, the vice president now owns 10,813 shares in the company, valued at approximately $3,135,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Alfred Sandrock sold 1,981 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $274.08, for a total value of $542,952.48. Following the sale, the chief marketing officer now owns 7,060 shares of the company’s stock, valued at approximately $1,935,004.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,957 shares of company stock valued at $3,689,473 in the last quarter. Company insiders own 0.32% of the company’s stock.
Several hedge funds have recently modified their holdings of BIIB. United Bank purchased a new stake in shares of Biogen during the fourth quarter worth about $758,000. Associated Banc Corp boosted its stake in shares of Biogen by 3.8% in the fourth quarter. Associated Banc Corp now owns 14,507 shares of the biotechnology company’s stock worth $4,114,000 after buying an additional 532 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Biogen by 9.8% in the fourth quarter. TCW Group Inc. now owns 21,850 shares of the biotechnology company’s stock worth $6,196,000 after buying an additional 1,953 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Biogen by 7.5% in the fourth quarter. Baird Financial Group Inc. now owns 102,196 shares of the biotechnology company’s stock worth $28,981,000 after buying an additional 7,172 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Biogen by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 531,702 shares of the biotechnology company’s stock worth $150,796,000 after buying an additional 9,175 shares during the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
To view Vetr’s full report, visit Vetr’s official website.
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