Biogen Inc. (BIIB) Stock Rating Upgraded by Vetr Inc.
Biogen Inc. (NASDAQ:BIIB) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $346.83 price target on the biotechnology company’s stock. Vetr‘s price objective would indicate a potential upside of 6.28% from the company’s current price.
A number of other research firms have also issued reports on BIIB. ValuEngine lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BMO Capital Markets reissued a “market perform” rating and set a $328.00 target price (up from $317.00) on shares of Biogen in a research note on Wednesday, July 26th. Cowen and Company reissued a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price for the company in a research note on Wednesday, August 16th. Twelve research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $329.95.
Biogen (NASDAQ BIIB) opened at 326.33 on Thursday. The company’s 50-day moving average is $293.33 and its 200 day moving average is $276.98. The stock has a market capitalization of $69.00 billion, a PE ratio of 21.41 and a beta of 0.77. Biogen has a 12-month low of $244.28 and a 12-month high of $329.84.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The firm had revenue of $3.08 billion during 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%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $5.21 EPS. On average, analysts predict that Biogen will post $21.44 EPS for the current year.
In other news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC acquired a new stake in shares of Biogen during the first quarter valued at approximately $102,000. Prentiss Smith & Co. Inc. grew its position in Biogen by 14.9% during the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares in the last quarter. Atlantic Trust LLC purchased a new position in Biogen during the second quarter valued at approximately $114,000. Independent Portfolio Consultants Inc. grew its position in Biogen by 93.2% during the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. grew its position in Biogen by 16.8% during the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.
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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