Biogen Inc. (BIIB) Lifted to “Strong-Buy” at Vetr Inc.

Vetr upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a research note published on Tuesday morning. They currently have $311.67 price objective on the biotechnology company’s stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley cut Biogen from an overweight rating to an equal weight rating and dropped their target price for the stock from $369.00 to $305.00 in a report on Thursday, March 16th. Barclays PLC restated an overweight rating and set a $360.00 price target (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Leerink Swann lowered Biogen from an outperform rating to a market perform rating and set a $300.00 price target on the stock. in a research report on Thursday, March 16th. Stifel Nicolaus increased their price target on Biogen from $265.00 to $280.00 and gave the stock a hold rating in a research report on Wednesday, April 26th. Finally, Credit Suisse Group restated a neutral rating and set a $296.00 price target on shares of Biogen in a research report on Monday, April 3rd. Twelve research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $329.94.

Biogen (BIIB) opened at 271.36 on Tuesday. The firm has a market cap of $57.56 billion, a price-to-earnings ratio of 17.00 and a beta of 0.77. Biogen has a 52-week low of $240.07 and a 52-week high of $333.65. The company’s 50-day moving average price is $259.24 and its 200-day moving average price is $274.78.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.97 by $0.23. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the firm posted $4.79 EPS. Biogen’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts predict that Biogen will post $20.46 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.tickerreport.com/banking-finance/2687313/biogen-inc-biib-lifted-to-strong-buy-at-vetr-inc.html.

In other Biogen news, CEO Michel Vounatsos purchased 1,402 shares of Biogen stock in a transaction that occurred on Monday, May 1st. The stock was acquired at an average price of $271.35 per share, for a total transaction of $380,432.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the transaction, the director now owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Biogen by 58.6% in the fourth quarter. Bessemer Group Inc. now owns 1,502 shares of the biotechnology company’s stock worth $426,000 after buying an additional 555 shares during the last quarter. FIL Ltd boosted its position in Biogen by 38.2% in the fourth quarter. FIL Ltd now owns 300,072 shares of the biotechnology company’s stock worth $85,094,000 after buying an additional 82,910 shares during the last quarter. LBA Wealth Management LLC boosted its position in Biogen by 5.1% in the fourth quarter. LBA Wealth Management LLC now owns 1,558 shares of the biotechnology company’s stock worth $442,000 after buying an additional 75 shares during the last quarter. Keybank National Association OH boosted its position in Biogen by 7.2% in the fourth quarter. Keybank National Association OH now owns 15,058 shares of the biotechnology company’s stock worth $4,270,000 after buying an additional 1,005 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in Biogen by 132.1% in the fourth quarter. Trexquant Investment LP now owns 6,500 shares of the biotechnology company’s stock worth $1,843,000 after buying an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.

About Biogen

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.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2017 Ticker Report. Google+.