Biogen (NASDAQ:BIIB) has been assigned a $380.00 target price by research analysts at Oppenheimer in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s target price would indicate a potential upside of 12.14% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $390.00 price target on shares of Biogen in a research report on Monday, December 18th. Royal Bank of Canada reiterated a “hold” rating and issued a $321.00 price target on shares of Biogen in a research report on Tuesday, December 5th. SunTrust Banks reiterated a “buy” rating and issued a $354.00 price target on shares of Biogen in a research report on Tuesday, October 24th. Nomura lifted their price target on shares of Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Finally, Canaccord Genuity assumed coverage on shares of Biogen in a research report on Friday, October 27th. They issued a “hold” rating and a $340.00 price target for the company. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $353.41.

Shares of Biogen (NASDAQ BIIB) opened at $338.85 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The stock has a market cap of $71,660.00, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 1.93 and a beta of 0.73. Biogen has a 1 year low of $244.28 and a 1 year high of $348.84.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $5.19 earnings per share. sell-side analysts anticipate that Biogen will post 22 EPS for the current fiscal year.

In other news, CEO Michel Vounatsos acquired 780 shares of the stock in a transaction on Friday, December 29th. The stock was acquired at an average cost of $320.55 per share, for a total transaction of $250,029.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander J. Denner acquired 30,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 31,560 shares of company stock valued at $10,020,858. Company insiders own 0.25% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Forbes J M & Co. LLP grew its stake in shares of Biogen by 0.6% during the second quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock worth $846,000 after buying an additional 19 shares during the last quarter. People s United Financial Inc. grew its stake in shares of Biogen by 1.1% during the second quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock worth $616,000 after buying an additional 25 shares during the last quarter. Linscomb & Williams Inc. grew its stake in shares of Biogen by 2.5% during the second quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock worth $327,000 after buying an additional 29 shares during the last quarter. YorkBridge Wealth Partners LLC grew its stake in shares of Biogen by 1.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,995 shares of the biotechnology company’s stock worth $816,000 after buying an additional 36 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Biogen by 1.1% during the second quarter. MML Investors Services LLC now owns 3,780 shares of the biotechnology company’s stock worth $1,026,000 after buying an additional 41 shares during the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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About Biogen

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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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