Citigroup reiterated their outperform rating on shares of Biogen (NASDAQ:BIIB) in a report published on Tuesday, The Fly reports. They currently have a $380.00 price target on the biotechnology company’s stock, up from their prior price target of $350.00.

A number of other equities analysts have also recently commented on BIIB. SunTrust Banks started coverage on shares of Biogen in a research note on Wednesday, September 20th. They issued a buy rating and a $360.00 price objective for the company. Raymond James Financial cut shares of Biogen from a strong-buy rating to a market perform rating and lifted their price objective for the stock from $244.28 to $319.00 in a research note on Thursday, September 21st. Mizuho reissued a neutral rating and issued a $319.00 price objective on shares of Biogen in a research note on Monday, October 2nd. Morgan Stanley raised shares of Biogen from an equal weight rating to an overweight rating and lifted their price objective for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Finally, Royal Bank of Canada reissued a hold rating and issued a $315.00 price objective on shares of Biogen in a research note on Thursday, October 5th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $353.75.

Shares of Biogen (BIIB) opened at $342.41 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The stock has a market cap of $71,990.00, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. Biogen has a fifty-two week low of $244.28 and a fifty-two week high of $348.84.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. Biogen’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.19 EPS. equities research analysts predict that Biogen will post 22 earnings per share for the current year.

In related news, Director Robert W. Pangia sold 5,832 shares of Biogen stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the completion of the sale, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were bought at an average price of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 31,560 shares of company stock valued at $10,020,858 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Horan Capital Advisors LLC. bought a new stake in Biogen during the 3rd quarter valued at about $128,000. Atlantic Trust LLC bought a new stake in shares of Biogen in the 2nd quarter valued at about $114,000. Massey Quick Simon & CO. LLC raised its holdings in shares of Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares in the last quarter. Cable Hill Partners LLC raised its holdings in shares of Biogen by 224.7% in the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock valued at $152,000 after purchasing an additional 337 shares in the last quarter. Finally, Gs Investments Inc. bought a new stake in shares of Biogen in the 2nd quarter valued at about $136,000. Institutional investors own 88.14% of the company’s stock.

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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).

The Fly

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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