Biogen Inc. (BIIB) Given Buy Rating at RBC Capital Markets
RBC Capital Markets reaffirmed their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research note issued to investors on Tuesday morning. RBC Capital Markets currently has a $375.00 target price on the biotechnology company’s stock.
A number of other brokerages have also recently issued reports on BIIB. Vetr cut shares of Biogen from a hold rating to a sell rating and set a $299.76 price target on the stock. in a research note on Tuesday, August 2nd. Credit Suisse Group AG reiterated a hold rating and issued a $322.00 price target on shares of Biogen in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reiterated a neutral rating on shares of Biogen in a research note on Wednesday, August 3rd. Morgan Stanley reiterated a buy rating and issued a $385.00 price target on shares of Biogen in a research note on Wednesday, August 3rd. Finally, Jefferies Group reiterated a buy rating and issued a $319.00 price target on shares of Biogen in a research note on Thursday, August 4th. Ten investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 305.59 on Tuesday. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65. The stock has a market cap of $66.96 billion, a P/E ratio of 17.85 and a beta of 0.95. The stock has a 50 day moving average of $308.50 and a 200 day moving average of $279.69.
Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.52. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.22 EPS. Equities analysts anticipate that Biogen will post $20.08 EPS for the current fiscal year.
In related news, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the completion of the sale, the director now directly owns 19,663 shares in the company, valued at $6,174,182. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Adriana Karaboutis sold 380 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the completion of the sale, the executive vice president now owns 7,172 shares of the company’s stock, valued at $2,244,836. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Howard Hughes Medical Institute bought a new stake in shares of Biogen during the first quarter worth about $135,000. Kings Point Capital Management bought a new stake in shares of Biogen during the second quarter worth about $145,000. North Star Asset Management Inc. bought a new stake in shares of Biogen during the third quarter worth about $207,000. Catawba Capital Management VA bought a new stake in shares of Biogen during the third quarter worth about $216,000. Finally, Signaturefd LLC increased its stake in shares of Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares in the last quarter. Institutional investors own 86.21% of the company’s stock.
Biogen Company Profile
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.
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.