Biogen (NASDAQ:BIIB) has been assigned a $380.00 price target by equities researchers at Oppenheimer in a research report issued on Sunday, October 28th, The Fly reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s target price indicates a potential upside of 18.94% from the stock’s current price. Oppenheimer also issued estimates for Biogen’s Q4 2018 earnings at $6.79 EPS, Q4 2018 earnings at $6.88 EPS, FY2018 earnings at $26.09 EPS, FY2018 earnings at $26.00 EPS, FY2019 earnings at $26.25 EPS, FY2020 earnings at $27.50 EPS, FY2020 earnings at $27.57 EPS, FY2021 earnings at $31.07 EPS, FY2021 earnings at $31.03 EPS and FY2022 earnings at $33.26 EPS.
Several other research firms have also recently weighed in on BIIB. BidaskClub cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 29th. UBS Group increased their price target on shares of Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Citigroup increased their price target on shares of Biogen to $483.00 and gave the company a “positive” rating in a research note on Thursday, July 26th. Mizuho reissued a “buy” rating and issued a $427.00 price target on shares of Biogen in a research note on Tuesday, July 31st. Finally, Raymond James reaffirmed a “buy” rating on shares of Biogen in a research report on Wednesday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $383.01.
Shares of BIIB traded up $0.27 during mid-day trading on Friday, hitting $319.48. 1,374,900 shares of the company were exchanged, compared to its average volume of 1,611,024. Biogen has a 1-year low of $249.17 and a 1-year high of $388.67. The company has a market cap of $65.29 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The company has a quick ratio of 2.46, a current ratio of 2.75 and a debt-to-equity ratio of 0.43.
In related news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in BIIB. Capital World Investors raised its stake in Biogen by 503.2% during the 3rd quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock worth $873,986,000 after acquiring an additional 2,063,598 shares in the last quarter. Morgan Stanley grew its position in Biogen by 61.1% during the 2nd 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 during the last quarter. Mainstay Capital Management LLC ADV grew its position in Biogen by 21,407.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock worth $2,537,000 after purchasing an additional 662,120 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in Biogen during the 3rd quarter worth $218,735,000. Finally, Renaissance Technologies LLC grew its position in Biogen by 163.2% during the 3rd quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock worth $298,927,000 after purchasing an additional 524,575 shares during the last quarter. Hedge funds and other institutional investors own 86.41% of the company’s stock.
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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