Biogen Inc. (BIIB) Stock Rating Reaffirmed by HC Wainwright
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday. They presently have a $360.00 price target on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 22.28% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Vetr cut Biogen from a “hold” rating to a “sell” rating and set a $265.77 price target on the stock. in a research note on Monday, July 25th. BMO Capital Markets boosted their target price on Biogen from $286.00 to $304.00 and gave the company a “market perform” rating in a research note on Monday, August 1st. Piper Jaffray Cos. reissued a “neutral” rating on shares of Biogen in a research note on Wednesday, August 3rd. Credit Suisse Group AG set a $322.00 target price on Biogen and gave the company a “hold” rating in a research note on Sunday, September 18th. Finally, Robert W. Baird reissued a “positive” rating and set a $284.00 target price (up from $268.00) on shares of Biogen in a research note on Monday, August 1st. Ten equities 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 currently has an average rating of “Buy” and a consensus price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 294.41 on Wednesday. The company has a market capitalization of $64.51 billion, a PE ratio of 17.20 and a beta of 0.95. The firm’s 50-day moving average price is $306.44 and its 200 day moving average price is $280.68. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.52. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.22 EPS. Equities research analysts expect that Biogen will post $20.08 earnings per share for the current fiscal year.
In other Biogen news, Director Caroline Dorsa sold 27,570 shares of the company’s 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 completion of the sale, the director now owns 19,663 shares in the company, valued at $6,174,182. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Adriana Karaboutis sold 380 shares of the company’s stock in a transaction dated 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 approximately $2,244,836. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Kings Point Capital Management acquired a new stake in Biogen during the second quarter valued at about $145,000. Signaturefd LLC boosted its stake in Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 492 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in Biogen during the third quarter valued at about $203,000. Cohen Capital Management Inc. acquired a new stake in Biogen during the third quarter valued at about $203,000. Finally, Lakeview Capital Partners LLC acquired a new stake in Biogen during the second quarter valued at about $205,000. Institutional investors and hedge funds own 86.21% of the company’s stock.
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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