Piper Jaffray Cos. Analysts Give Biogen Inc. (BIIB) a $335.00 Price Target
Biogen Inc. (NASDAQ:BIIB) received a $335.00 price target from equities research analysts at Piper Jaffray Cos. in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Piper Jaffray Cos.’s target price would suggest a potential upside of 9.76% from the company’s previous close.
Several other research analysts have also recently issued reports on the stock. Leerink Swann decreased their target price on shares of Biogen to $355.00 in a report on Friday. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $316.41 target price for the company. in a report on Monday, November 7th. Mizuho began coverage on shares of Biogen in a report on Monday, November 7th. They issued a “neutral” rating and a $290.00 target price for the company. HC Wainwright reissued a “buy” rating on shares of Biogen in a report on Thursday, October 27th. Finally, Cowen and Company reissued a “buy” rating and set a $368.00 price objective on shares of Biogen in a report on Wednesday, October 26th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and a consensus price target of $339.38.
Biogen (NASDAQ:BIIB) traded down 0.24% on Thursday, reaching $305.20. 741,587 shares of the company traded hands. The stock has a market capitalization of $66.40 billion, a price-to-earnings ratio of 17.26 and a beta of 0.75. The stock’s 50-day moving average is $299.88 and its 200-day moving average is $287.26. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65.
Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.22. The business earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.48 earnings per share. Equities research analysts expect that Biogen will post $20.22 EPS for the current year.
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In other news, EVP Adriana Karaboutis sold 262 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the transaction, the executive vice president now directly owns 7,579 shares in the company, valued at $2,364,193.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the transaction, the director now owns 19,663 shares in the company, valued at $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. 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 worth $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 worth $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 worth $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 worth $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 worth approximately $145,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.
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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