Biogen Inc. (BIIB) Hits New 12-Month High at $347.12
Biogen Inc. (NASDAQ:BIIB) reached a new 52-week high during trading on Tuesday . The company traded as high as $347.12 and last traded at $347.29, with a volume of 917,581 shares traded. The stock had previously closed at $335.68.
A number of research firms recently commented on BIIB. Bank of America Corporation boosted their target price on Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and upped their price objective for the company from $300.00 to $415.00 in a research report on Tuesday. Morgan Stanley restated a “buy” rating on shares of Biogen in a research report on Tuesday. Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $319.00 to $400.00 in a research report on Tuesday. Finally, BMO Capital Markets upped their price objective on Biogen from $328.00 to $377.00 and gave the company a “market perform” rating in a research report on Wednesday, September 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $340.67.
The company has a market cap of $72.85 billion, a price-to-earnings ratio of 22.61 and a beta of 0.77. The stock’s 50 day moving average is $322.93 and its 200 day moving average is $284.94.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.21 earnings per share. Equities analysts forecast that Biogen Inc. will post $21.62 earnings per share 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 value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.
Several large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Biogen by 2,762.0% during the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after purchasing an additional 17,074,075 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Biogen by 4,585.3% during the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after purchasing an additional 1,414,707 shares in the last quarter. Janus Capital Management LLC grew its stake in shares of Biogen by 204.8% during the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after purchasing an additional 1,301,251 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Biogen by 2,288.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after purchasing an additional 1,295,540 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new position in shares of Biogen during the first quarter worth $345,143,000. Institutional investors and hedge funds own 87.62% of the company’s stock.
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Biogen Company Profile
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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