Biogen Inc. (BIIB) Receives Consensus Recommendation of “Buy” from Brokerages
Biogen Inc. (NASDAQ:BIIB) has been assigned an average recommendation of “Buy” from the thirty-three ratings firms that are covering the company, MarketBeat reports. Twelve analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $344.25.
Several equities research analysts have recently commented on the company. Bank of America Corporation increased their price objective on Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Citigroup Inc. cut Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Piper Jaffray Companies restated an “overweight” rating and issued a $390.00 price target on shares of Biogen in a research note on Monday, October 23rd. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and increased their price target for the company from $300.00 to $415.00 in a research note on Tuesday, October 17th. Finally, Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and increased their price target for the company from $319.00 to $400.00 in a research note on Tuesday, October 17th.
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Institutional investors and hedge funds have recently modified their holdings of the company. Pathstone Family Office LLC bought a new position in shares of Biogen during the first quarter worth about $102,000. Prentiss Smith & Co. Inc. increased its holdings in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 50 shares in the last quarter. Atlantic Trust LLC bought a new stake in Biogen in the second quarter worth approximately $114,000. Independent Portfolio Consultants Inc. increased its holdings in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 219 shares in the last quarter. Finally, Horan Capital Advisors LLC. bought a new stake in Biogen in the third quarter worth approximately $128,000. Institutional investors own 88.35% of the company’s stock.
Biogen (NASDAQ BIIB) traded up $0.59 during midday trading on Thursday, hitting $310.28. The stock had a trading volume of 1,294,000 shares, compared to its average volume of 1,515,812. The firm has a market cap of $66,360.00, a P/E ratio of 14.34, a PEG ratio of 1.93 and a beta of 0.72. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.19 EPS. equities analysts predict that Biogen will post 22.03 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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