Morgan Stanley restated their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research note published on Tuesday morning.

BIIB has been the topic of a number of other research reports. Vetr raised Biogen from a buy rating to a strong-buy rating and set a $311.67 price target on the stock in a research note on Tuesday, June 27th. Deutsche Bank AG started coverage on Biogen in a research note on Friday, June 23rd. They set a buy rating and a $315.00 target price on the stock. Robert W. Baird reaffirmed a hold rating and set a $290.00 target price on shares of Biogen in a research note on Friday, August 25th. Stifel Nicolaus reaffirmed a hold rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, October 12th. Finally, Credit Suisse Group set a $300.00 target price on Biogen and gave the company a hold rating in a research note on Friday, July 14th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $340.67.

Shares of Biogen (BIIB) traded down 1.26% on Tuesday, hitting $338.10. 1,894,625 shares of the stock traded hands. The company’s 50 day moving average is $324.03 and its 200 day moving average is $285.35. Biogen has a one year low of $244.28 and a one year high of $348.84. The stock has a market cap of $71.48 billion, a price-to-earnings ratio of 22.19 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $5.21 EPS. On average, equities analysts forecast that Biogen will post $21.63 EPS for the current year.

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In related news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Beacon Trust Co. lifted its holdings in Biogen by 0.5% in the 1st quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America lifted its holdings in Biogen by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 6 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares during the last quarter. Buckingham Capital Management Inc. lifted its holdings in Biogen by 0.3% in the 1st quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock worth $670,000 after purchasing an additional 8 shares during the last quarter. Finally, RMB Capital Management LLC lifted its holdings in Biogen by 1.1% in the 1st quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 87.62% 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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