Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating reaffirmed by research analysts at Credit Suisse Group in a research note issued to investors on Monday, March 12th. They currently have a $384.00 target price on the biotechnology company’s stock. Credit Suisse Group’s price target indicates a potential upside of 49.04% from the company’s current price.
BIIB has been the topic of a number of other research reports. Royal Bank of Canada restated a “hold” rating and set a $321.00 price target on shares of Biogen in a report on Tuesday, December 5th. Nomura increased their price target on shares of Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a research note on Saturday, December 30th. William Blair restated a “buy” rating on shares of Biogen in a research note on Thursday, February 15th. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Finally, Mizuho set a $400.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $366.49.
Biogen stock traded down $7.33 during midday trading on Monday, reaching $257.65. 1,949,979 shares of the stock traded hands, compared to its average volume of 1,676,176. The firm has a market capitalization of $57,629.68, a price-to-earnings ratio of 11.81, a PEG ratio of 1.50 and a beta of 0.86. Biogen has a fifty-two week low of $244.28 and a fifty-two week high of $370.57. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47.
In other news, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the completion of the sale, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alfred Sandrock sold 259 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the sale, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at approximately $1,905,808.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,128 shares of company stock worth $2,601,512. 0.25% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. Victory Capital Management Inc. lifted its position in Biogen by 7.2% during the third quarter. Victory Capital Management Inc. now owns 8,433 shares of the biotechnology company’s stock worth $2,641,000 after purchasing an additional 570 shares during the period. Global X MANAGEMENT CO LLC lifted its position in Biogen by 8.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 3,936 shares of the biotechnology company’s stock worth $1,232,000 after purchasing an additional 291 shares during the period. FDx Advisors Inc. raised its stake in Biogen by 19.4% during the third quarter. FDx Advisors Inc. now owns 4,942 shares of the biotechnology company’s stock worth $1,547,000 after acquiring an additional 804 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in Biogen during the third quarter worth about $281,000. Finally, Retirement Systems of Alabama raised its stake in Biogen by 11.5% during the third quarter. Retirement Systems of Alabama now owns 161,949 shares of the biotechnology company’s stock worth $50,709,000 after acquiring an additional 16,676 shares in the last quarter. 88.93% of the stock is owned by institutional investors and hedge funds.
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Biogen Company Profile
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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