Leerink Swann Lowers Biogen Inc (BIIB) to Market Perform
Leerink Swann lowered shares of Biogen Inc (NASDAQ:BIIB) from an outperform rating to a market perform rating in a research note released on Thursday. Leerink Swann currently has $300.00 price objective on the biotechnology company’s stock.
A number of other research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Biogen from an overweight rating to an equal weight rating and decreased their price objective for the company from $369.00 to $305.00 in a report on Thursday, March 16th. Robert W. Baird restated a neutral rating and set a $290.00 price objective on shares of Biogen in a report on Tuesday, March 7th. Instinet began coverage on shares of Biogen in a report on Wednesday, March 1st. They set a buy rating and a $345.00 price objective for the company. Nomura began coverage on shares of Biogen in a report on Wednesday, March 1st. They set a neutral rating for the company. Finally, Sanford C. Bernstein restated an outperform rating and set a $310.00 price objective on shares of Biogen in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $327.74.
Biogen (NASDAQ:BIIB) opened at 274.80 on Thursday. The company has a market cap of $59.34 billion, a P/E ratio of 16.23 and a beta of 0.72. The stock’s 50 day moving average is $283.74 and its 200-day moving average is $293.74. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.96 by $0.08. The firm earned $2.87 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.50 earnings per share. Analysts predict that Biogen will post $20.94 earnings per share for the current fiscal year.
Your IP Address:
In other Biogen news, Director Robert W. Pangia sold 5,450 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $295.39, for a total transaction of $1,609,875.50. Following the sale, the director now directly owns 22,078 shares of the company’s stock, valued at $6,521,620.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michel Vounatsos purchased 1,333 shares of the company’s stock in a transaction on Monday, February 27th. The shares were purchased at an average cost of $285.39 per share, for a total transaction of $380,424.87. The disclosure for this purchase can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Optimum Investment Advisors raised its stake in Biogen by 22.7% in the second quarter. Optimum Investment Advisors now owns 1,352 shares of the biotechnology company’s stock valued at $327,000 after buying an additional 250 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Biogen by 37.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,504 shares of the biotechnology company’s stock valued at $1,089,000 after buying an additional 1,220 shares during the period. BNP Paribas Arbitrage SA raised its stake in Biogen by 28.6% in the third quarter. BNP Paribas Arbitrage SA now owns 152,259 shares of the biotechnology company’s stock valued at $47,662,000 after buying an additional 33,875 shares during the period. Boltwood Capital Management raised its stake in Biogen by 2.7% in the third quarter. Boltwood Capital Management now owns 2,100 shares of the biotechnology company’s stock valued at $657,000 after buying an additional 55 shares during the period. Finally, North Star Asset Management Inc. purchased a new stake in Biogen during the third quarter valued at about $207,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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.