William Blair Reaffirms Market Perform Rating for Biogen (NASDAQ:BIIB)
William Blair reaffirmed their market perform rating on shares of Biogen (NASDAQ:BIIB) in a report issued on Tuesday morning, RTT News reports. William Blair also issued estimates for Biogen’s Q1 2020 earnings at $8.06 EPS, Q2 2020 earnings at $8.47 EPS, Q3 2020 earnings at $8.25 EPS, Q4 2020 earnings at $7.81 EPS and FY2020 earnings at $32.59 EPS.
Several other research analysts also recently issued reports on BIIB. Svb Leerink lifted their price target on Biogen from $350.00 to $410.00 and gave the stock an outperform rating in a research note on Monday, February 3rd. Cowen reiterated a buy rating and set a $325.00 price objective on shares of Biogen in a research report on Thursday, January 2nd. BidaskClub cut Biogen from a sell rating to a strong sell rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reiterated a hold rating on shares of Biogen in a research report on Thursday, February 6th. Finally, BMO Capital Markets reiterated a market perform rating and set a $317.00 price objective on shares of Biogen in a research report on Thursday, February 6th. Five analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $316.69.
Shares of NASDAQ:BIIB traded down $1.25 during midday trading on Tuesday, hitting $333.00. 997,612 shares of the stock were exchanged, compared to its average volume of 1,896,997. The stock has a market cap of $59.00 billion, a P/E ratio of 10.58, a PEG ratio of 1.13 and a beta of 1.21. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37. Biogen has a twelve month low of $215.77 and a twelve month high of $374.99. The company has a 50 day moving average price of $296.66 and a 200-day moving average price of $267.35.
Biogen announced that its board has approved a stock repurchase plan on Saturday, December 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biotechnology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Biogen news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $292.35, for a total value of $308,429.25. Following the completion of the sale, the director now owns 6,995 shares in the company, valued at approximately $2,044,988.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Solstein Capital LLC purchased a new stake in Biogen in the 4th quarter valued at about $34,000. Kistler Tiffany Companies LLC grew its holdings in Biogen by 41.7% in the 4th quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 35 shares during the period. Bourgeon Capital Management LLC purchased a new stake in Biogen in the 3rd quarter valued at about $30,000. Samalin Investment Counsel LLC purchased a new stake in Biogen in the 4th quarter valued at about $39,000. Finally, Resources Management Corp CT ADV purchased a new stake in Biogen in the 3rd quarter valued at about $34,000. Institutional investors own 86.95% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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