Biogen Inc. (BIIB) Upgraded by Vetr Inc. to “Buy”
Other research analysts have also recently issued research reports about the stock. Credit Suisse Group AG set a $322.00 price objective on shares of Biogen and gave the company a hold rating in a research report on Sunday, September 18th. Piper Jaffray Cos. set a $335.00 price objective on shares of Biogen and gave the company a buy rating in a research report on Thursday, November 24th. Morgan Stanley reiterated a buy rating and set a $385.00 price objective on shares of Biogen in a research report on Wednesday, August 3rd. Leerink Swann boosted their price objective on shares of Biogen from $360.00 to $367.00 and gave the company a market perform rating in a research report on Monday, August 1st. Finally, HC Wainwright reiterated a buy rating on shares of Biogen in a research report on Thursday, October 27th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Biogen currently has an average rating of Buy and an average price target of $338.93.
Biogen (NASDAQ:BIIB) opened at 303.78 on Monday. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The company has a market capitalization of $66.09 billion, a price-to-earnings ratio of 17.18 and a beta of 0.75. The company has a 50 day moving average of $299.83 and a 200 day moving average of $287.80.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.22. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.48 earnings per share. On average, equities analysts forecast that Biogen will post $20.22 EPS for the current fiscal year.
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In other Biogen news, EVP Adriana Karaboutis sold 262 shares of Biogen stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total value of $81,728.28. Following the completion of the transaction, the executive vice president now directly owns 7,579 shares of the company’s stock, valued at approximately $2,364,193.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction dated 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 transaction, the director now directly 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.
Institutional investors have recently added to or reduced their stakes in the stock. Girard Partners LTD. purchased a new position in Biogen during the third quarter valued at $289,000. NEXT Financial Group Inc increased its position in Biogen by 47.6% in the second quarter. NEXT Financial Group Inc now owns 1,283 shares of the biotechnology company’s stock valued at $310,000 after buying an additional 414 shares in the last quarter. Cohen Lawrence B purchased a new position in Biogen during the second quarter valued at $1,422,000. CenturyLink Investment Management Co increased its position in Biogen by 205.1% in the second quarter. CenturyLink Investment Management Co now owns 1,925 shares of the biotechnology company’s stock valued at $466,000 after buying an additional 1,294 shares in the last quarter. Finally, Moreno Evelyn V increased its position in Biogen by 769.2% in the second quarter. Moreno Evelyn V now owns 11,995 shares of the biotechnology company’s stock valued at $2,900,000 after buying an additional 10,615 shares in the last quarter. 86.43% of the stock is owned by institutional investors.
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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