Oppenheimer Holdings, Inc. began coverage on shares of Biogen Inc. (NASDAQ:BIIB) in a research report report published on Thursday. The firm issued an outperform rating and a $350.00 price target on the biotechnology company’s stock. Oppenheimer Holdings also issued estimates for Biogen’s FY2021 earnings at $28.76 EPS.

A number of other research analysts have also recently commented on the company. BMO Capital Markets increased their price target on Biogen from $381.00 to $386.00 and gave the company an outperform rating in a research note on Monday, November 6th. Canaccord Genuity began coverage on Biogen in a research note on Friday, October 27th. They issued a hold rating and a $340.00 price target for the company. HC Wainwright reiterated a buy rating and issued a $340.00 price target on shares of Biogen in a research note on Wednesday, October 25th. Royal Bank Of Canada dropped their price target on Biogen from $315.00 to $313.00 and set a sector perform rating for the company in a research note on Wednesday, October 25th. Finally, UBS AG increased their price target on Biogen from $285.00 to $318.00 and gave the company a neutral rating in a research note on Wednesday, October 25th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $341.89.

Shares of Biogen (NASDAQ BIIB) traded up $0.48 during trading hours on Thursday, reaching $310.44. The company had a trading volume of 820,700 shares, compared to its average volume of 1,616,859. The firm has a market capitalization of $65,650.92, a P/E ratio of 14.38, a P/E/G ratio of 1.94 and a beta of 0.72. Biogen has a 1-year low of $244.28 and a 1-year high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the business posted $5.19 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. sell-side analysts predict that Biogen will post 22.03 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC acquired a new position in Biogen during the 1st quarter valued at about $102,000. Prentiss Smith & Co. Inc. boosted its stake in Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares during the last quarter. Atlantic Trust LLC acquired a new position in Biogen during the 2nd quarter valued at about $114,000. Independent Portfolio Consultants Inc. boosted its stake in Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares during the last quarter. Finally, Horan Capital Advisors LLC. acquired a new position in Biogen during the 3rd quarter valued at about $128,000. Institutional investors and hedge funds own 87.76% 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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