Biogen Inc. (BIIB) Given Hold Rating at Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research report report published on Friday morning. The brokerage currently has a $290.00 price objective on the biotechnology company’s stock.
Several other equities research analysts also recently issued reports on the company. Vetr downgraded Biogen from a strong-buy rating to a buy rating and set a $319.53 price objective on the stock. in a report on Wednesday, August 23rd. Goldman Sachs Group, Inc. (The) upgraded Biogen from a buy rating to a conviction-buy rating and set a $338.00 price objective on the stock in a report on Wednesday, August 16th. BidaskClub upgraded Biogen from a hold rating to a buy rating in a report on Friday, August 4th. Cowen and Company reiterated a buy rating on shares of Biogen in a research report on Thursday, July 27th. Finally, BMO Capital Markets reiterated a market perform rating and issued a $328.00 target price (up previously from $317.00) on shares of Biogen in a research report on Wednesday, July 26th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $328.81.
Shares of Biogen (NASDAQ BIIB) traded up 3.06% during midday trading on Friday, hitting $293.77. 912,644 shares of the stock traded hands. Biogen has a 12-month low of $244.28 and a 12-month high of $304.23. The company’s 50 day moving average price is $284.39 and its 200-day moving average price is $274.87. The stock has a market cap of $62.11 billion, a price-to-earnings ratio of 19.28 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $5.21 EPS. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Biogen will post $21.44 EPS for the current year.
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In other Biogen news, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the transaction, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock worth $3,931,380 over the last quarter. Corporate insiders own 0.32% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after buying an additional 17,074,075 shares during the period. Janus Henderson Group PLC increased its position in Biogen by 4,585.3% in the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after buying an additional 1,414,707 shares during the period. Janus Capital Management LLC increased its position in Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after buying an additional 1,301,251 shares during the period. Massachusetts Financial Services Co. MA increased its position in Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after buying an additional 1,295,540 shares during the period. Finally, Winslow Capital Management LLC bought a new position in Biogen during the first quarter worth $345,143,000. 87.25% of the stock is currently owned by institutional investors.
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).
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