William Blair reiterated their market perform rating on shares of Biogen (NASDAQ:BIIB) in a research report report published on Tuesday, 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 analysts also recently commented on the company. Oppenheimer raised their target price on Biogen from to in a research note on Friday, February 7th. Mizuho reaffirmed a hold rating and issued a $300.00 price target on shares of Biogen in a research report on Wednesday, February 5th. SunTrust Banks raised their price target on shares of Biogen from $337.00 to $360.00 and gave the company a buy rating in a research report on Monday, February 3rd. Standpoint Research cut shares of Biogen from a buy rating to a hold rating in a research report on Friday, November 1st. Finally, Credit Suisse Group raised their price target on shares of Biogen from $300.00 to $330.00 and gave the company a neutral rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $316.69.
Shares of BIIB opened at $333.00 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.56. The stock has a 50-day moving average of $296.66 and a 200-day moving average of $267.35. The company has a market cap of $58.18 billion, a PE ratio of 9.94, a P/E/G ratio of 1.25 and a beta of 1.21. Biogen has a one year low of $215.77 and a one year high of $374.99.
Biogen declared that its board has approved a stock buyback program on Saturday, December 21st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Biogen news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $292.35, for a total transaction of $308,429.25. Following the transaction, the director now owns 6,995 shares of the company’s stock, valued at approximately $2,044,988.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of BIIB. Cim LLC grew its holdings in Biogen by 71.0% in the 3rd quarter. Cim LLC now owns 23,193 shares of the biotechnology company’s stock valued at $5,400,000 after buying an additional 9,631 shares during the last quarter. Winmill & CO. Inc. acquired a new stake in Biogen in the 3rd quarter valued at approximately $326,000. Fox Run Management L.L.C. grew its holdings in Biogen by 9.3% in the 3rd quarter. Fox Run Management L.L.C. now owns 2,394 shares of the biotechnology company’s stock valued at $557,000 after buying an additional 203 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in Biogen by 4.5% in the 3rd quarter. Wealthfront Advisers LLC now owns 4,656 shares of the biotechnology company’s stock valued at $1,084,000 after buying an additional 201 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in Biogen by 20.4% in the 3rd quarter. DNB Asset Management AS now owns 76,254 shares of the biotechnology company’s stock valued at $17,753,000 after buying an additional 12,936 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors.
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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