Biogen Inc. (BIIB) Earns Neutral Rating from Mizuho
Mizuho reissued their neutral rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research report report published on Wednesday. Mizuho currently has a $319.00 price target on the biotechnology company’s stock, up from their previous price target of $274.00.
Several other brokerages have also weighed in on BIIB. Vetr upgraded Biogen from a hold rating to a buy rating and set a $346.83 price objective for the company in a report on Thursday, September 7th. ValuEngine lowered Biogen from a buy rating to a hold rating in a report on Friday, September 1st. BMO Capital Markets restated a market perform rating and issued a $328.00 price objective (up previously from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Cowen and Company restated a buy rating on shares of Biogen in a report on Thursday, July 27th. Finally, BidaskClub upgraded Biogen from a hold rating to a buy rating in a report on Friday, August 4th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $331.53.
Biogen (BIIB) traded down 0.74% during midday trading on Wednesday, reaching $321.26. The company’s stock had a trading volume of 2,235,370 shares. The company’s 50-day moving average price is $298.79 and its 200-day moving average price is $278.33. The company has a market capitalization of $67.92 billion, a price-to-earnings ratio of 21.08 and a beta of 0.77. Biogen has a 1-year low of $244.28 and a 1-year high of $330.00.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.21 earnings per share. On average, analysts predict that Biogen will post $21.48 earnings per share for the current fiscal year.
In related news, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Biogen by 2.3% in the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after acquiring an additional 415,099 shares during the period. Vanguard Group Inc. lifted its position in shares of Biogen by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after acquiring an additional 182,337 shares during the period. State Street Corp lifted its position in shares of Biogen by 1.5% in the 2nd quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after acquiring an additional 140,929 shares during the period. Clearbridge Investments LLC lifted its position in shares of Biogen by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after acquiring an additional 351,224 shares during the period. Finally, FMR LLC lifted its position in shares of Biogen by 10.1% in the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares during the period. Hedge funds and other institutional investors 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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