Biogen (NASDAQ:BIIB) Price Target Raised to $455.00

Biogen (NASDAQ:BIIB) had its price target raised by Morgan Stanley from $343.00 to $455.00 in a research note released on Tuesday, Price Targets.com reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the stock. Bank of America raised shares of Biogen from an underperform rating to a neutral rating and upped their target price for the stock from $235.00 to $400.00 in a report on Monday. Atlantic Securities raised shares of Biogen from an underweight rating to a neutral rating and set a $415.00 target price for the company in a report on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Biogen from a sell rating to a neutral rating and upped their target price for the stock from $200.00 to $440.00 in a report on Tuesday. Barclays boosted their price target on shares of Biogen from $265.00 to $395.00 and gave the company an equal weight rating in a research report on Tuesday. Finally, Cowen raised shares of Biogen from a market perform rating to an outperform rating and boosted their price target for the company from $225.00 to $450.00 in a research report on Monday. Sixteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $369.86.

Biogen stock opened at $414.71 on Tuesday. Biogen has a 52-week low of $223.25 and a 52-week high of $468.55. The stock has a market capitalization of $62.44 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.87 and a beta of 0.44. The business’s fifty day simple moving average is $282.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.75.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 21st. The biotechnology company reported $5.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.06 by $0.28. Biogen had a net margin of 23.89% and a return on equity of 42.04%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm earned $9.14 earnings per share. The company’s revenue for the quarter was down 23.8% compared to the same quarter last year. As a group, equities analysts expect that Biogen will post 18.43 EPS for the current fiscal year.

In other Biogen news, insider Alfred Sandrock sold 7,672 shares of the business’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $440.00, for a total transaction of $3,375,680.00. Following the sale, the insider now directly owns 2,919 shares in the company, valued at $1,284,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 360 shares of the business’s stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $274.17, for a total transaction of $98,701.20. Following the sale, the director now owns 7,400 shares in the company, valued at $2,028,858. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Annapolis Financial Services LLC purchased a new stake in Biogen during the fourth quarter worth about $25,000. Signet Investment Advisory Group Inc. purchased a new stake in shares of Biogen during the fourth quarter worth approximately $26,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Biogen during the first quarter worth approximately $26,000. Sittner & Nelson LLC purchased a new stake in shares of Biogen during the fourth quarter worth approximately $28,000. Finally, Coastal Capital Group Inc. purchased a new stake in shares of Biogen during the first quarter worth approximately $28,000. Institutional investors own 85.10% 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, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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