Biogen Inc. (NASDAQ:BIIB) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $321.54 price target on the biotechnology company’s stock. Vetr‘s price objective indicates a potential upside of 5.22% from the company’s previous close.

A number of other brokerages also recently issued reports on BIIB. Piper Jaffray Cos. restated a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Morgan Stanley boosted their price target on Biogen from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Thursday, July 21st. BMO Capital Markets restated a “market perform” rating and set a $287.00 price target on shares of Biogen in a report on Sunday, July 24th. Credit Suisse Group AG restated a “hold” rating and set a $312.00 price target on shares of Biogen in a report on Friday, July 22nd. Finally, Jefferies Group restated a “buy” rating and set a $317.00 price target on shares of Biogen in a report on Wednesday, July 13th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $347.34.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Shares of Biogen (NASDAQ:BIIB) opened at 305.59 on Monday. The stock has a market capitalization of $66.96 billion, a P/E ratio of 17.85 and a beta of 0.95. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The stock has a 50 day moving average price of $308.50 and a 200 day moving average price of $279.69.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.52. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the business earned $4.22 EPS. Biogen’s revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Biogen will post $20.08 EPS for the current year.

In other news, Director Caroline Dorsa sold 27,570 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the completion of the sale, the director now directly owns 19,663 shares in the company, valued at approximately $6,174,182. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George A. Scangos sold 157 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total value of $43,960.00. Following the completion of the sale, the chief executive officer now owns 54,779 shares of the company’s stock, valued at $15,338,120. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in shares of Biogen by 2.8% in the first quarter. Primecap Management Co. CA now owns 16,246,726 shares of the biotechnology company’s stock worth $4,229,348,000 after buying an additional 436,101 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Biogen by 1.4% in the second quarter. Vanguard Group Inc. now owns 13,544,616 shares of the biotechnology company’s stock worth $3,275,359,000 after buying an additional 182,714 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Biogen by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,816,485 shares of the biotechnology company’s stock worth $1,406,542,000 after buying an additional 50,433 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Biogen by 1.5% in the second quarter. BlackRock Fund Advisors now owns 4,843,447 shares of the biotechnology company’s stock worth $1,171,242,000 after buying an additional 71,709 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Biogen by 0.7% in the second quarter. Alliancebernstein L.P. now owns 3,184,239 shares of the biotechnology company’s stock worth $770,013,000 after buying an additional 21,307 shares during the last quarter. Hedge funds and other institutional investors own 86.21% of the company’s stock.

About Biogen

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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