Vetr downgraded shares of Biogen Inc. (NASDAQ:BIIB) from a strong-buy rating to a buy rating in a report published on Wednesday morning. Vetr currently has $319.53 price objective on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the stock. Cowen and Company reissued a buy rating and issued a $338.00 price target on shares of Biogen in a report on Tuesday, April 25th. Piper Jaffray Companies set a $442.00 price target on shares of Biogen and gave the company a buy rating in a report on Monday, May 15th. ValuEngine raised shares of Biogen from a hold rating to a buy rating in a report on Thursday, June 22nd. Deutsche Bank AG started coverage on shares of Biogen in a report on Friday, June 23rd. They issued a buy rating and a $315.00 price target on the stock. Finally, Goldman Sachs Group, Inc. (The) raised shares of Biogen from a neutral rating to a buy rating and boosted their price target for the company from $228.00 to $338.00 in a report on Wednesday, July 26th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $328.81.

Shares of Biogen (BIIB) opened at 285.06 on Wednesday. The stock’s 50 day moving average is $284.39 and its 200-day moving average is $274.87. Biogen has a one year low of $244.28 and a one year high of $304.23. The firm has a market cap of $60.27 billion, a P/E ratio of 18.71 and a beta of 0.79.

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

TRADEMARK VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/26/biogen-inc-biib-cut-to-buy-at-vetr-inc.html.

In other news, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now directly owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the sale, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,816 shares of company stock valued at $3,931,380. 0.32% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Pathstone Family Office LLC bought a new stake in shares of Biogen during the first quarter worth approximately $102,000. Prentiss Smith & Co. Inc. boosted its stake in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of Biogen during the first quarter worth approximately $106,000. Atlantic Trust LLC bought a new stake in shares of Biogen during the second quarter worth approximately $114,000. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the period. 88.38% of the stock is owned by institutional investors.

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)

Receive News & Stock Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related stocks with our FREE daily email newsletter.