Biogen Inc. (BIIB) Given a $367.00 Price Target by Leerink Swann Analysts
Other equities analysts also recently issued reports about the stock. Vetr downgraded shares of Biogen from a hold rating to a sell rating and set a $265.77 price target for the company. in a report on Monday, July 25th. BMO Capital Markets lifted their price target on shares of Biogen from $286.00 to $304.00 and gave the company a market perform rating in a report on Monday, August 1st. Piper Jaffray Cos. reissued a neutral rating on shares of Biogen in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $322.00 price target on shares of Biogen and gave the company a hold rating in a report on Sunday, September 18th. Finally, Robert W. Baird reaffirmed a positive rating and issued a $284.00 target price (up from $268.00) on shares of Biogen in a research note on Monday, August 1st. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen has an average rating of Buy and an average price target of $347.34.
Biogen (NASDAQ:BIIB) traded up 1.46% on Wednesday, hitting $296.13. 1,047,156 shares of the stock traded hands. The stock has a market cap of $64.89 billion, a P/E ratio of 17.30 and a beta of 0.95. The stock has a 50-day moving average price of $306.87 and a 200 day moving average price of $280.59. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the firm posted $4.22 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that Biogen will post $20.08 EPS for the current fiscal year.
In other Biogen news, Director Caroline Dorsa sold 27,570 shares of the stock in a transaction dated 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 transaction, the director now owns 19,663 shares of the company’s stock, valued at $6,174,182. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO George A. Scangos sold 157 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $280.00, for a total value of $43,960.00. Following the completion of the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at approximately $15,338,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio increased its position in Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock worth $73,337,000 after buying an additional 29,114 shares in the last quarter. Boston Advisors LLC increased its position in Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock worth $30,795,000 after buying an additional 121,866 shares in the last quarter. Artemis Investment Management LLP increased its position in Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock worth $13,342,000 after buying an additional 37,015 shares in the last quarter. Nuveen Asset Management LLC increased its position in Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock worth $26,497,000 after buying an additional 51,375 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Biogen during the first quarter worth $33,233,000. 86.21% of the stock is currently owned by institutional investors.
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.
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