Royal Bank Of Canada reiterated their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research note published on Thursday, October 5th. They currently have a $315.00 price objective on the biotechnology company’s stock.
Several other research firms have also issued reports on BIIB. BMO Capital Markets lifted their target price on Biogen from $328.00 to $377.00 and gave the company a market perform rating in a research note on Wednesday, September 13th. Mizuho reiterated a neutral rating and issued a $319.00 target price (up previously from $274.00) on shares of Biogen in a research note on Wednesday, September 13th. Vetr upgraded Biogen from a hold rating to a buy rating and set a $346.83 price target on the stock in a research note on Thursday, September 7th. ValuEngine lowered Biogen from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Raymond James Financial, Inc. lowered Biogen from a strong-buy rating to a market perform rating and boosted their price target for the stock from $244.28 to $319.00 in a research note on Thursday, September 21st. Eleven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen currently has a consensus rating of Buy and an average price target of $339.66.
Biogen (BIIB) opened at 344.47 on Thursday. The firm has a market cap of $72.83 billion, a price-to-earnings ratio of 22.60 and a beta of 0.77. Biogen has a 52 week low of $244.28 and a 52 week high of $348.65. The company has a 50-day moving average of $319.52 and a 200-day moving average of $283.51.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $5.21 earnings per share. Equities research analysts forecast that Biogen will post $21.57 earnings per share for the current fiscal year.
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In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Botty Investors LLC boosted its stake in shares of Biogen by 75.0% in the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after buying an additional 4,812 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares in the last quarter. BB&T Securities LLC boosted its stake in shares of Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after buying an additional 2,598 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares in the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in shares of Biogen in the first quarter valued at approximately $894,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.
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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