Biogen Inc. (NASDAQ:BIIB) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $319.53 price target on the biotechnology company’s stock. Vetr‘s target price indicates a potential upside of 13.65% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and set a $307.00 price objective on shares of Biogen in a report on Wednesday, June 14th. UBS AG raised shares of Biogen from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $262.00 to $270.00 in a report on Monday, June 19th. Leerink Swann reissued a “market perform” rating and set a $338.00 price objective (up from $304.00) on shares of Biogen in a report on Wednesday, July 26th. Sanford C. Bernstein reissued an “outperform” rating and set a $310.00 price objective on shares of Biogen in a report on Tuesday, April 25th. Finally, BidaskClub raised shares of Biogen from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Eleven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and an average target price of $329.74.
Biogen (NASDAQ BIIB) traded down 2.63% during trading on Thursday, reaching $281.15. The company had a trading volume of 1,377,956 shares. Biogen has a 12-month low of $244.28 and a 12-month high of $329.83. The stock has a market capitalization of $59.44 billion, a P/E ratio of 18.45 and a beta of 0.79. The stock has a 50 day moving average of $281.40 and a 200-day moving average of $273.93.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company earned $5.21 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts forecast that Biogen will post $21.44 earnings per share for the current fiscal year.
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In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock worth $3,931,380 over the last ninety days. Insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pathstone Family Office LLC acquired a new position in shares of Biogen during the first quarter valued at about $102,000. Prentiss Smith & Co. Inc. boosted its stake in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the period. Crestwood Advisors Group LLC purchased a new stake in Biogen during the first quarter valued at approximately $106,000. Independent Portfolio Consultants Inc. boosted its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. boosted its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the period. 88.70% of the stock is currently owned by institutional investors.
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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