SunTrust Banks, Inc. assumed coverage on shares of Biogen Inc. (NASDAQ:BIIB) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the biotechnology company’s stock.

A number of other research firms have also weighed in on BIIB. Deutsche Bank AG assumed coverage on shares of Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 price target on the stock. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target on the stock. in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $228.00 to $338.00 in a research report on Wednesday, July 26th. Finally, Cowen and Company restated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Thirteen investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $331.53.

Shares of Biogen (NASDAQ BIIB) opened at 317.93 on Wednesday. The firm has a 50-day moving average of $300.47 and a 200 day moving average of $278.47. Biogen has a 52 week low of $244.28 and a 52 week high of $330.00. The stock has a market cap of $67.22 billion, a PE ratio of 20.86 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.81 billion. During the same quarter last year, the business earned $5.21 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Biogen will post $21.50 EPS for the current fiscal year.

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In related news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Several hedge funds have recently made changes to their positions in BIIB. BlackRock Inc. grew its holdings in Biogen by 2,762.0% during the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after acquiring an additional 17,074,075 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Biogen by 4,585.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after acquiring an additional 1,414,707 shares in the last quarter. Janus Capital Management LLC grew its holdings in Biogen by 204.8% during the 1st quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after acquiring an additional 1,301,251 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Biogen by 2,288.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after acquiring an additional 1,295,540 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new position in Biogen during the 1st quarter worth approximately $345,143,000. Hedge funds and other institutional investors own 87.65% of the company’s stock.

About Biogen

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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