Biogen Inc. (NASDAQ:BIIB) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities analysts have also commented on BIIB. UBS AG raised shares of Biogen from a “sell” rating to a “neutral” rating and increased their price target for the stock from $262.00 to $270.00 in a report on Monday, June 19th. Morgan Stanley reissued an “equal weight” rating and issued a $311.00 price target (up previously from $301.00) on shares of Biogen in a report on Wednesday, July 26th. Vetr lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 price target on the stock. in a report on Wednesday, July 26th. BMO Capital Markets reissued a “market perform” rating and issued a $328.00 price target (up previously from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Finally, Cowen and Company reissued a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Biogen presently has an average rating of “Buy” and a consensus target price of $329.74.

Shares of Biogen (BIIB) traded up 0.76% on Friday, hitting $288.27. 745,982 shares of the stock traded hands. The stock has a 50 day moving average price of $276.09 and a 200-day moving average price of $273.47. The stock has a market cap of $60.95 billion, a price-to-earnings ratio of 18.92 and a beta of 0.79. Biogen has a 52 week low of $244.28 and a 52 week high of $304.23.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the company posted $5.21 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Biogen will post $21.44 EPS for the current year.

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In related news, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,816 shares of company stock valued at $3,931,380. Corporate insiders own 0.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dillon & Associates Inc. boosted its position in shares of Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock worth $487,000 after buying an additional 5 shares during the period. Beacon Trust Co. boosted its position in shares of Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after buying an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after buying an additional 6 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after buying an additional 6 shares during the period. Finally, Trust Co. of Vermont boosted its position in shares of Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock worth $660,000 after buying an additional 7 shares during the period. 88.75% of the stock is owned by institutional investors.

Biogen Company Profile

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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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