Biogen Inc. (BIIB) Cut to Hold at ValuEngine
ValuEngine cut shares of Biogen Inc. (NASDAQ:BIIB) from a buy rating to a hold rating in a research report report published on Friday.
Several other research analysts have also recently issued reports on the company. Vetr cut Biogen from a strong-buy rating to a buy rating and set a $319.53 price target on the stock. in a report on Tuesday, August 29th. Robert W. Baird reiterated a hold rating and set a $290.00 price objective on shares of Biogen in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a buy rating to a conviction-buy rating and set a $338.00 price objective on the stock in a research report on Wednesday, August 16th. BidaskClub upgraded shares of Biogen from a hold rating to a buy rating in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a buy rating on shares of Biogen in a research report on Thursday, July 27th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $328.70.
Shares of Biogen (BIIB) traded up 1.41% during midday trading on Friday, reaching $321.01. The company’s stock had a trading volume of 2,083,874 shares. The stock has a market capitalization of $67.87 billion, a PE ratio of 21.07 and a beta of 0.77. The stock’s 50 day moving average is $288.68 and its 200 day moving average is $276.07. Biogen has a 12 month low of $244.28 and a 12 month high of $322.12.
Biogen (NASDAQ:BIIB) last posted 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 company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.21 earnings per share. On average, analysts forecast that Biogen will post $21.44 EPS for the current fiscal year.
In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,816 shares of company stock valued at $3,931,380. Company insiders own 0.32% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BIIB. BlackRock Inc. lifted its position in Biogen by 2,762.0% during the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after acquiring an additional 17,074,075 shares during the last quarter. Janus Henderson Group PLC lifted its position in Biogen by 4,585.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after acquiring an additional 1,414,707 shares during the last quarter. Janus Capital Management LLC lifted its position in Biogen by 204.8% during the 1st quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after acquiring an additional 1,301,251 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Biogen by 2,288.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after acquiring an additional 1,295,540 shares during the last quarter. Finally, Winslow Capital Management LLC acquired a new position in Biogen during the 1st quarter worth $345,143,000. 87.26% of the stock is owned by hedge funds and other 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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