Biogen (BIIB) Given “Outperform” Rating at Citigroup

Biogen (NASDAQ:BIIB)‘s stock had its “outperform” rating reiterated by research analysts at Citigroup in a research note issued to investors on Tuesday, The Fly reports. They currently have a $380.00 price objective on the biotechnology company’s stock, up from their prior price objective of $350.00. Citigroup’s price objective would indicate a potential upside of 10.65% from the stock’s current price.

BIIB has been the topic of several other reports. Mizuho set a $400.00 price objective on Biogen and gave the company a “buy” rating in a research report on Monday, November 13th. Credit Suisse Group raised Biogen from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $321.00 to $385.00 in a research report on Wednesday, December 20th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 12th. Oppenheimer set a $350.00 price objective on Biogen and gave the company a “buy” rating in a research report on Monday, December 4th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a research report on Tuesday, October 17th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $353.75.

Shares of Biogen (BIIB) traded down $1.43 on Tuesday, hitting $343.44. The stock had a trading volume of 909,909 shares, compared to its average volume of 1,110,000. The company has a market cap of $72,630.00, a PE ratio of 21.06, a P/E/G ratio of 1.92 and a beta of 0.73. Biogen has a 12-month low of $244.28 and a 12-month high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.19 EPS. sell-side analysts forecast that Biogen will post 21.99 EPS for the current fiscal year.

In related news, CEO Michel Vounatsos acquired 780 shares of the company’s stock in a transaction on Friday, December 29th. The stock was acquired at an average price of $320.55 per share, with a total value of $250,029.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders have acquired a total of 31,560 shares of company stock valued at $10,020,858 in the last three months. Insiders own 0.25% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atlantic Trust LLC bought a new position in shares of Biogen in the 2nd quarter valued at about $114,000. Horan Capital Advisors LLC. bought a new position in shares of Biogen in the 3rd quarter valued at about $128,000. Massey Quick Simon & CO. LLC lifted its holdings in shares of Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after acquiring an additional 195 shares during the last quarter. Gs Investments Inc. bought a new position in shares of Biogen in the 2nd quarter valued at about $136,000. Finally, Patten Group Inc. lifted its holdings in shares of Biogen by 4,308.7% in the 3rd quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 19,906 shares during the last quarter. 88.14% of the stock is owned by institutional investors and hedge funds.

WARNING: This news story was first reported by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3144466/biogen-biib-given-outperform-rating-at-citigroup.html.

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).

The Fly

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen 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


© 2006-2018 Ticker Report. Google+.