ValuEngine upgraded shares of Biogen (NASDAQ:BIIB) from a sell rating to a hold rating in a report released on Tuesday morning.

BIIB has been the subject of a number of other research reports. Oppenheimer set a $400.00 price objective on shares of Biogen and gave the company a buy rating in a report on Friday, October 19th. BidaskClub cut shares of Biogen from a buy rating to a hold rating in a report on Wednesday, October 3rd. Cowen reiterated a buy rating and issued a $408.00 price target on shares of Biogen in a report on Tuesday, July 24th. SunTrust Banks upped their price target on shares of Biogen from $321.00 to $392.00 and gave the company a buy rating in a report on Wednesday, July 25th. Finally, Cantor Fitzgerald set a $293.00 price target on shares of Biogen and gave the company a hold rating in a report on Wednesday, July 25th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $383.01.

NASDAQ BIIB traded down $0.84 during trading on Tuesday, reaching $325.20. 780,451 shares of the stock traded hands, compared to its average volume of 1,550,865. The stock has a market cap of $66.79 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. Biogen has a fifty-two week low of $249.17 and a fifty-two week high of $388.67.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.78 by $0.62. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.31 earnings per share. Analysts predict that Biogen will post 25.71 earnings per share for the current fiscal year.

In other news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Biogen by 0.7% in the second quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock worth $839,536,000 after purchasing an additional 19,730 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Biogen by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock worth $685,588,000 after purchasing an additional 72,668 shares in the last quarter. Jackson Square Partners LLC lifted its position in shares of Biogen by 5.7% in the third quarter. Jackson Square Partners LLC now owns 2,241,778 shares of the biotechnology company’s stock worth $792,042,000 after purchasing an additional 121,072 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Biogen by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,095,005 shares of the biotechnology company’s stock worth $608,054,000 after purchasing an additional 18,790 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Biogen by 61.1% in the second quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock worth $508,240,000 after purchasing an additional 664,096 shares in the last quarter. 87.55% of the stock is currently owned by institutional investors and hedge funds.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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