Vetr upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a research note released on Thursday. They currently have $319.53 price target on the biotechnology company’s stock.

Several other analysts also recently issued reports on BIIB. UBS AG raised shares of Biogen from a sell rating to a neutral rating and raised their price objective for the stock from $262.00 to $270.00 in a research note on Monday, June 19th. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a buy rating to a conviction-buy rating and set a $338.00 price objective for the company in a research note on Wednesday, August 16th. Cowen and Company reaffirmed a buy rating on shares of Biogen in a research report on Thursday, July 27th. William Blair reaffirmed an outperform rating on shares of Biogen in a research report on Monday, June 26th. Finally, BidaskClub raised shares of Biogen from a hold rating to a buy rating in a research report on Friday, August 4th. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $328.81.

Biogen (BIIB) opened at 281.77 on Thursday. The stock has a market cap of $59.57 billion, a P/E ratio of 18.49 and a beta of 0.79. The company’s 50-day moving average price is $283.10 and its 200-day moving average price is $274.37. Biogen has a one year low of $244.28 and a one year high of $304.23.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.21 earnings per share. Analysts forecast that Biogen will post $21.44 EPS for the current fiscal year.

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In other news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the sale, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the sale, the director now owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock valued at $3,931,380 over the last quarter. Insiders own 0.32% of the company’s stock.

Large investors have recently bought and sold shares of the company. Pathstone Family Office LLC bought a new stake in Biogen during the first quarter valued at approximately $102,000. Prentiss Smith & Co. Inc. increased its stake in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Biogen during the first quarter valued at approximately $106,000. Independent Portfolio Consultants Inc. increased its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the last quarter. Finally, Winfield Associates Inc. increased its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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