Biogen’s (BIIB) Neutral Rating Reiterated at Citigroup

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Citigroup restated their neutral rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Thursday morning, Briefing.com Automated Import reports.

A number of other equities analysts have also recently weighed in on BIIB. Oppenheimer set a $372.00 price target on Biogen and gave the stock a buy rating in a report on Friday, January 25th. Stifel Nicolaus increased their price target on Biogen from $392.00 to $397.00 and gave the stock a buy rating in a report on Tuesday, January 29th. Mizuho set a $427.00 price target on Biogen and gave the stock a buy rating in a report on Tuesday, January 29th. Leerink Swann increased their price target on Biogen from $328.00 to $341.00 and gave the stock a market perform rating in a report on Wednesday, January 30th. Finally, Royal Bank of Canada lowered their price target on Biogen from $337.00 to $318.00 and set a fair value rating for the company in a report on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have assigned a buy rating to the stock. Biogen presently has an average rating of Hold and a consensus target price of $283.23.

NASDAQ BIIB opened at $227.06 on Thursday. The firm has a market cap of $44.03 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. Biogen has a twelve month low of $216.12 and a twelve month high of $388.67.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.10. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.05 EPS. As a group, equities analysts expect that Biogen will post 29.55 earnings per share for the current year.

In other Biogen news, Director Robert W. Pangia sold 6,114 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $328.55, for a total value of $2,008,754.70. Following the sale, the director now owns 24,701 shares of the company’s stock, valued at approximately $8,115,513.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander J. Denner purchased 118,342 shares of Biogen stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $229.94 per share, for a total transaction of $27,211,559.48. Following the transaction, the director now directly owns 10,909 shares in the company, valued at $2,508,415.46. The disclosure for this purchase can be found here. Insiders acquired a total of 173,035 shares of company stock worth $39,759,632 in the last ninety days. 0.29% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Biogen by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock valued at $4,985,931,000 after acquiring an additional 70,603 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Biogen by 27,620.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 14,257,427 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Biogen by 33.7% in the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock valued at $991,793,000 after acquiring an additional 1,063,775 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Biogen by 12.1% in the 1st quarter. Geode Capital Management LLC now owns 3,043,191 shares of the biotechnology company’s stock valued at $718,262,000 after acquiring an additional 329,614 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Biogen by 4.8% in the 4th quarter. Northern Trust Corp now owns 2,907,306 shares of the biotechnology company’s stock valued at $874,867,000 after acquiring an additional 133,137 shares during the last quarter. 87.65% of the stock is currently owned by institutional investors.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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