Biogen Inc. (NASDAQ:BIIB) had its price target decreased by analysts at Leerink Swann to $355.00 in a research note issued to investors on Friday. Leerink Swann’s price target suggests a potential upside of 16.04% from the stock’s current price.

BIIB has been the topic of a number of other research reports. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price objective on the stock in a research report on Monday, September 12th. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $333.00 price objective (up previously from $293.00) on shares of Biogen in a research report on Tuesday, August 16th. Jefferies Group reaffirmed a “buy” rating and set a $319.00 price objective on shares of Biogen in a research report on Sunday, September 4th. Bank of America Corp. reaffirmed a “buy” rating and set a $374.00 price objective on shares of Biogen in a research report on Thursday, September 22nd. Finally, BMO Capital Markets increased their price target on Biogen from $286.00 to $304.00 and gave the company a “market perform” rating in a research note on Monday, August 1st. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $339.38.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Shares of Biogen (NASDAQ:BIIB) traded down 0.25% during trading on Friday, reaching $305.15. The company’s stock had a trading volume of 170,095 shares. The firm’s 50-day moving average is $300.18 and its 200-day moving average is $287.01. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The stock has a market capitalization of $66.39 billion, a PE ratio of 17.26 and a beta of 0.75.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.22. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the company earned $4.48 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that Biogen will post $20.22 earnings per share for the current year.

In related news, EVP Adriana Karaboutis sold 262 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total value of $81,728.28. Following the sale, the executive vice president now owns 7,579 shares in the company, valued at approximately $2,364,193.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Caroline Dorsa sold 27,570 shares of the business’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 in the company, valued at approximately $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Assetmark Inc. boosted its position in Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 39 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Biogen by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 470 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 34 shares during the last quarter. Winfield Associates Inc. boosted its position in Biogen by 10.0% in the third quarter. Winfield Associates Inc. now owns 440 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 40 shares during the last quarter. Balentine LLC boosted its position in Biogen by 685.7% in the third quarter. Balentine LLC now owns 440 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 384 shares during the last quarter. Finally, Kings Point Capital Management bought a new position in Biogen during the second quarter valued at approximately $145,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

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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.

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