Biogen Inc. (BIIB) Stock Rating Reaffirmed by Mizuho
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “neutral” rating reiterated by stock analysts at Mizuho in a research note issued to investors on Monday. They currently have a $319.00 price target on the biotechnology company’s stock. Mizuho’s price target points to a potential upside of 0.51% from the company’s current price.
The analysts wrote, “We looked through early Spinraza data to draw as close to apples to apples comparison as possible. Here is a chart we found (from an old BIIB deck), which shows Spinraza increases SMN protein by ~2.7x.””
A number of other analysts have also weighed in on the stock. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $309.45 price target for the company. in a research note on Wednesday, July 5th. Deutsche Bank AG started coverage on shares of Biogen in a research note on Friday, June 23rd. They set a “buy” rating and a $315.00 price objective on the stock. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) raised Biogen from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $228.00 to $338.00 in a report on Wednesday, July 26th. Finally, Cowen and Company reissued a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Fourteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $328.16.
Shares of Biogen (BIIB) opened at 317.39 on Monday. Biogen has a 52 week low of $244.28 and a 52 week high of $330.00. The stock has a market cap of $67.11 billion, a price-to-earnings ratio of 20.83 and a beta of 0.77. The stock’s 50 day moving average price is $308.56 and its 200 day moving average price is $280.34.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $5.21 EPS. Equities research analysts anticipate that Biogen will post $21.51 EPS for the current fiscal year.
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In related news, EVP Susan H. Alexander sold 4,974 shares of the business’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 value of $1,442,509.74. Following the completion of the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 value of $2,211,030.00. Following the completion of the sale, 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. 0.25% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BIIB. Pathstone Family Office LLC acquired a new stake in Biogen in the first quarter valued at approximately $102,000. Prentiss Smith & Co. Inc. increased its stake in shares of Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 50 shares during the last quarter. Atlantic Trust LLC acquired a new position in shares of Biogen during the 2nd quarter worth $114,000. Independent Portfolio Consultants Inc. increased its stake in shares of Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 219 shares during the last quarter. Finally, Winfield Associates Inc. increased its stake in shares of Biogen by 16.8% during the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 67 shares during the last quarter. 87.65% of the stock is currently 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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