Analysts Set Biogen Inc. (BIIB) Price Target at $339.55
Shares of Biogen Inc. (NASDAQ:BIIB) have received a consensus recommendation of “Buy” from the twenty-six research firms that are presently covering the company. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $339.17.
A number of research analysts have issued reports on the company. Credit Suisse Group AG set a $322.00 price objective on Biogen and gave the company a “hold” rating in a research note on Sunday, September 18th. Vetr upgraded Biogen from a “sell” rating to a “hold” rating and set a $317.79 price objective for the company in a research note on Wednesday, August 3rd. Piper Jaffray Cos. set a $335.00 price objective on Biogen and gave the company a “buy” rating in a research note on Thursday, November 24th. Morgan Stanley restated a “buy” rating and issued a $385.00 price objective on shares of Biogen in a research note on Wednesday, August 3rd. Finally, Leerink Swann restated a “market perform” rating and issued a $361.00 price objective (down previously from $367.00) on shares of Biogen in a research note on Thursday, October 27th.
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Biogen (NASDAQ:BIIB) opened at 294.07 on Monday. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The firm has a market cap of $63.98 billion, a P/E ratio of 16.63 and a beta of 0.75. The firm’s 50-day moving average price is $299.83 and its 200 day moving average price is $287.80.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.22. The firm earned $2.96 billion during the quarter, compared to the consensus estimate of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.48 EPS. Equities analysts forecast that Biogen will post $20.22 earnings per share for the current fiscal year.
In related news, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction that occurred on 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 sale, the director now directly owns 19,663 shares in the company, valued at $6,174,182. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adriana Karaboutis sold 262 shares of Biogen stock in a transaction that occurred on Tuesday, October 4th. The shares were 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 $2,364,193.26. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. raised its stake 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 in the last quarter. Quadrant Capital Group LLC raised its stake 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 in the last quarter. Winfield Associates Inc. raised its stake 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 in the last quarter. Balentine LLC raised its stake 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 in the last quarter. Finally, Kings Point Capital Management bought a new position in shares of Biogen during the second quarter worth about $145,000. Institutional investors own 86.43% 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.
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