Biogen Inc. (NASDAQ:BIIB) shares were up 2.4% on Friday . The company traded as high as $259.98 and last traded at $258.85, with a volume of 1,343,368 shares traded. The stock had previously closed at $252.87.

A number of research analysts have weighed in on BIIB shares. Jefferies Group reiterated a “buy” rating and issued a $338.00 price objective on shares of Biogen in a research report on Wednesday, March 23rd. Leerink Swann reiterated a “market perform” rating and issued a $328.00 price objective (down previously from $335.00) on shares of Biogen in a research report on Monday, March 28th. BMO Capital Markets started coverage on shares of Biogen in a research report on Tuesday, April 5th. They issued a “market perform” rating and a $283.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Biogen from $419.00 to $404.00 in a research report on Friday, April 8th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $345.00 price objective on shares of Biogen in a research report on Monday, April 11th. Eleven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $322.70.

The stock has a market cap of $56.97 billion and a P/E ratio of 15.982. The company’s 50 day moving average price is $252.05 and its 200 day moving average price is $264.14.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, April 21st. The biotechnology company reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.32. The company earned $2.73 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the firm posted $3.82 earnings per share. Biogen’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Biogen Inc. will post $18.91 earnings per share for the current year.

In related news, CEO George A. Scangos sold 842 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $290.00, for a total value of $244,180.00. Following the completion of the sale, the chief executive officer now directly owns 54,936 shares in the company, valued at $15,931,440. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Adam Koppel sold 555 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $290.00, for a total transaction of $160,950.00. Following the completion of the sale, the executive vice president now owns 2,402 shares of the company’s stock, valued at $696,580. The disclosure for this sale can be found here.

A number of large investors recently added to or reduced their stakes in BIIB. Garcia Hamilton & Associates LP DE increased its stake in Biogen by 1.9% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 4,559 shares of the biotechnology company’s stock worth $1,397,000 after buying an additional 83 shares during the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of Biogen by 2.7% in the fourth quarter. TCI Wealth Advisors Inc. now owns 6,856 shares of the biotechnology company’s stock worth $2,100,000 after buying an additional 180 shares during the period. RidgeWorth Capital Management LLC boosted its position in shares of Biogen by 0.3% in the fourth quarter. RidgeWorth Capital Management LLC now owns 62,278 shares of the biotechnology company’s stock worth $19,079,000 after buying an additional 184 shares during the period. Suntrust Banks Inc. boosted its position in shares of Biogen by 1.0% in the fourth quarter. Suntrust Banks Inc. now owns 21,653 shares of the biotechnology company’s stock worth $6,632,000 after buying an additional 213 shares during the period. Finally, Quantitative Investment Management LLC boosted its position in shares of Biogen by 1.8% in the fourth quarter. Quantitative Investment Management LLC now owns 17,200 shares of the biotechnology company’s stock worth $5,269,000 after buying an additional 300 shares during the period.

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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