Biogen Inc. (NASDAQ:BIIB) has been assigned a $367.00 price target by equities research analysts at Leerink Swann in a research note issued on Wednesday. The brokerage currently has a a “hold” rating on the biotechnology company’s stock. Leerink Swann’s price objective points to a potential upside of 25.74% from the company’s previous close.

BIIB has been the subject of several other reports. JPMorgan Chase & Co. restated a “buy” rating and issued a $386.00 price objective on shares of Biogen in a report on Friday, September 16th. Jefferies Group restated a “buy” rating and issued a $319.00 price objective on shares of Biogen in a report on Thursday, August 4th. Robert W. Baird restated a “neutral” rating and issued a $284.00 price objective on shares of Biogen in a report on Wednesday, August 10th. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price objective for the company in a report on Monday, September 12th. Finally, Piper Jaffray Cos. set a $333.00 price objective on Biogen and gave the company a “hold” rating in a report on Thursday, September 22nd. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $347.34.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB) traded up 1.48% during trading on Wednesday, reaching $296.21. 1,031,262 shares of the company’s stock traded hands. Biogen has a one year low of $223.02 and a one year high of $333.65. The firm has a market cap of $64.91 billion, a price-to-earnings ratio of 17.30 and a beta of 0.95. The company has a 50 day moving average of $306.87 and a 200 day moving average of $280.59.

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

In other Biogen news, 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 directly owns 54,779 shares in the company, valued at approximately $15,338,120. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Caroline Dorsa sold 27,570 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were 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 owns 19,663 shares of the company’s stock, valued at $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Strs Ohio boosted its stake in shares of Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock valued at $73,337,000 after buying an additional 29,114 shares during the last quarter. Boston Advisors LLC boosted its stake in shares of Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock valued at $30,795,000 after buying an additional 121,866 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock valued at $13,342,000 after buying an additional 37,015 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock valued at $26,497,000 after buying an additional 51,375 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Biogen during the first quarter valued at about $33,233,000. Institutional investors own 86.21% of the company’s stock.

Biogen Company Profile

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.

5 Day Chart for NASDAQ:BIIB

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