Biogen Inc. (BIIB) Given Average Recommendation of “Buy” by Brokerages
Shares of Biogen Inc. (NASDAQ:BIIB) have been given an average rating of “Buy” by the twenty-nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Fourteen research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $329.09.
A number of equities analysts have commented on the stock. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $262.00 to $270.00 in a report on Monday, June 19th. Mizuho reissued a “neutral” rating and set a $319.00 price target on shares of Biogen in a research report on Monday. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target on the stock in a report on Thursday, August 10th. Cowen and Company restated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, June 26th.
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In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was 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 directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value 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 $7,761,120. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Large investors have recently made changes to their positions in the company. Beacon Trust Co. increased its holdings in Biogen by 0.5% in the 1st quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America grew its position in shares of Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 6 shares during the period. Carroll Financial Associates Inc. grew its position in shares of Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 6 shares during the period. Trust Co. of Vermont grew its position in shares of Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after purchasing an additional 7 shares during the period. Finally, Buckingham Capital Management Inc. grew its position in shares of Biogen by 0.3% in the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 87.65% of the company’s stock.
Shares of Biogen (BIIB) traded up 0.97% on Wednesday, reaching $316.17. 1,673,993 shares of the company were exchanged. Biogen has a 52 week low of $244.28 and a 52 week high of $330.00. The company’s 50-day moving average is $300.47 and its 200-day moving average is $278.47. The company has a market capitalization of $66.85 billion, a price-to-earnings ratio of 20.75 and a beta of 0.77.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the business posted $5.21 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts expect that Biogen will post $21.51 EPS for the current fiscal year.
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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