Biogen Inc. (NASDAQ:BIIB) was upgraded by research analysts at Mizuho from a “neutral” rating to a “buy” rating in a report released on Tuesday, October 17th, MarketBeat.com reports. The firm currently has a $400.00 target price on the biotechnology company’s stock, up from their prior target price of $319.00. Mizuho’s target price points to a potential upside of 26.29% from the company’s previous close.
A number of other research firms also recently weighed in on BIIB. Vetr downgraded Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price for the company. in a research report on Tuesday, August 29th. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Cowen and Company reaffirmed an “outperform” rating and issued a $271.00 price target on shares of Biogen in a report on Monday, July 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $315.00 price target on shares of Biogen in a report on Thursday, October 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $310.00 price target on shares of Biogen in a report on Tuesday, July 11th. Twelve analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $341.25.
Biogen (NASDAQ:BIIB) traded up $2.60 on Tuesday, reaching $316.74. The company’s stock had a trading volume of 468,071 shares, compared to its average volume of 1,611,129. The firm has a market capitalization of $66,433.36, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen has a 12-month low of $244.28 and a 12-month high of $348.84.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.19 earnings per share. research analysts predict that Biogen will post 22.03 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the business. Beacon Trust Co. boosted its holdings in Biogen by 0.5% during the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in Biogen by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 6 shares during the period. Carroll Financial Associates Inc. boosted its holdings in Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 6 shares during the period. Buckingham Capital Management Inc. boosted its holdings in Biogen by 0.3% during the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after acquiring an additional 8 shares during the period. Finally, RMB Capital Management LLC boosted its holdings in Biogen by 1.1% during the first quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 9 shares during the period. Institutional investors own 87.76% of the company’s stock.
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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