BMO Capital Markets reaffirmed their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research report report published on Tuesday. They currently have a $318.00 price target on the biotechnology company’s stock.
A number of other equities research analysts have also issued reports on the company. Vetr raised Biogen from a buy rating to a strong-buy rating and set a $310.17 price target for the company in a research note on Monday, March 20th. Mizuho reaffirmed a neutral rating and set a $290.00 target price on shares of Biogen in a research report on Wednesday, March 22nd. Robert W. Baird reaffirmed a neutral rating and set a $290.00 target price on shares of Biogen in a research report on Wednesday, March 29th. Cantor Fitzgerald reaffirmed a neutral rating on shares of Biogen in a research report on Wednesday, March 29th. Finally, Credit Suisse Group reaffirmed a neutral rating and set a $296.00 target price on shares of Biogen in a research report on Monday, April 3rd. Thirteen investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Biogen currently has a consensus rating of Buy and a consensus price target of $325.48.
Biogen (NASDAQ:BIIB) traded up 0.46% during mid-day trading on Tuesday, reaching $283.89. The company had a trading volume of 489,159 shares. The firm has a 50-day moving average of $267.17 and a 200 day moving average of $273.75. Biogen has a 1-year low of $244.28 and a 1-year high of $307.76. The company has a market capitalization of $60.22 billion, a PE ratio of 17.78 and a beta of 0.78.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 EPS for the quarter, topping the Zacks’ consensus estimate of $4.97 by $0.23. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.79 EPS. On average, analysts predict that Biogen will post $20.45 earnings per share for the current fiscal year.
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In related news, Director Alexander J. Denner acquired 73,858 shares of the firm’s stock in a transaction dated Thursday, April 27th. The stock was acquired at an average price of $278.50 per share, with a total value of $20,569,453.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 cost of $271.35 per share, with a total value of $380,432.70. The disclosure for this purchase can be found here. Insiders own 0.32% of the company’s stock.
Several institutional investors have recently made changes to their positions in BIIB. Pathstone Family Office LLC acquired a new position in shares of Biogen during the first quarter valued at $102,000. Prentiss Smith & Co. Inc. raised its position in shares of 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 last quarter. Crestwood Advisors Group LLC acquired a new position in shares of Biogen during the first quarter valued at $106,000. Independent Portfolio Consultants Inc. raised its position in shares of 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 last quarter. Finally, Winfield Associates Inc. raised its position in shares of 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 last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.
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).
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