Biogen Inc. (BIIB) Stock Rating Upgraded by Vetr Inc.
Biogen Inc. (NASDAQ:BIIB) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $316.41 price target on the biotechnology company’s stock. Vetr‘s target price points to a potential upside of 4.51% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. Piper Jaffray Cos. reiterated a “neutral” rating and set a $333.00 target price (up previously from $293.00) on shares of Biogen in a research note on Tuesday, August 16th. Jefferies Group reiterated a “buy” rating and set a $319.00 target price on shares of Biogen in a research note on Sunday, September 4th. Bank of America Corp. reiterated a “buy” rating and set a $374.00 target price on shares of Biogen in a research note on Thursday, September 22nd. BMO Capital Markets increased their target price on Biogen from $286.00 to $304.00 and gave the stock a “market perform” rating in a research note on Monday, August 1st. Finally, Leerink Swann set a $367.00 target price on Biogen and gave the stock a “hold” rating in a research note on Wednesday, October 12th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $338.60.
Biogen (NASDAQ:BIIB) opened at 302.77 on Monday. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The company has a market cap of $65.87 billion, a P/E ratio of 17.12 and a beta of 0.75. The firm has a 50-day moving average price of $299.83 and a 200 day moving average price of $287.80.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.22. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.48 earnings per share. On average, equities analysts expect that Biogen will post $20.22 earnings per share for the current year.
In other Biogen news, EVP Adriana Karaboutis sold 380 shares of Biogen stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $313.00, for a total transaction of $118,940.00. Following the completion of the transaction, the executive vice president now owns 7,172 shares in the company, valued at approximately $2,244,836. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction dated Thursday, September 22nd. The shares were 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 approximately $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its position in Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock worth $130,000 after buying an additional 39 shares during the period. Quadrant Capital Group LLC increased its position in Biogen by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 470 shares of the biotechnology company’s stock worth $136,000 after buying an additional 34 shares during the period. Winfield Associates Inc. increased its position in Biogen by 10.0% in the third quarter. Winfield Associates Inc. now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 40 shares during the period. Balentine LLC increased its position in Biogen by 685.7% in the third quarter. Balentine LLC now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 384 shares during the period. Finally, Kings Point Capital Management bought a new position in Biogen during the second quarter worth about $145,000. Institutional investors and hedge funds own 86.43% 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.
To view Vetr’s full report, visit Vetr’s official website.
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