Biogen Inc. (NASDAQ:BIIB) had its price target increased by research analysts at BMO Capital Markets from $328.00 to $377.00 in a research note issued to investors on Wednesday. The firm currently has a “market perform” rating on the biotechnology company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 14.35% from the stock’s previous close.
Several other equities research analysts have also recently commented on the company. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target for the company in a research note on Tuesday, June 27th. Credit Suisse Group set a $300.00 price target on Biogen and gave the company a “hold” rating in a research note on Friday, July 14th. Morgan Stanley reissued an “equal weight” rating and issued a $307.00 price target on shares of Biogen in a research note on Wednesday, June 14th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $277.00 price target on shares of Biogen in a research note on Thursday, May 25th. Twelve investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Biogen has a consensus rating of “Buy” and a consensus target price of $333.87.
Shares of Biogen (NASDAQ BIIB) traded down 1.36% during trading on Wednesday, reaching $325.19. 532,502 shares of the company’s stock were exchanged. The company’s 50-day moving average is $295.86 and its 200 day moving average is $277.45. Biogen has a 52 week low of $244.28 and a 52 week high of $330.00. The stock has a market capitalization of $68.76 billion, a PE ratio of 21.34 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.21 EPS. On average, analysts forecast that Biogen will post $21.44 earnings per share for the current year.
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In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the sale, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Large investors have recently made changes to their positions in the business. Wrapmanager Inc. grew its position in Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock valued at $1,511,000 after acquiring an additional 396 shares during the period. Savant Capital LLC grew its position in Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 30 shares during the period. Botty Investors LLC grew its position in Biogen by 75.0% in the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after acquiring an additional 4,812 shares during the period. Vanguard Group Inc. grew its position in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after acquiring an additional 342,568 shares during the period. Finally, BB&T Securities LLC grew its position in Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after acquiring an additional 2,598 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.
Biogen Company Profile
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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