Biogen (BIIB) Given Outperform Rating at Citigroup
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.
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.
COPYRIGHT VIOLATION WARNING: “Biogen (BIIB) Given Outperform Rating at Citigroup” was originally reported by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was stolen and republished in violation of U.S. and international copyright & trademark law. The original version of this report can be accessed at https://www.dailypolitical.com/2018/01/20/biogen-biib-given-outperform-rating-at-citigroup.html.
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).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.