Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating reissued by research analysts at Barclays in a report issued on Sunday. They presently have a $395.00 price objective on the biotechnology company’s stock. Barclays’ target price indicates a potential upside of 15.36% from the company’s current price.

Other analysts have also issued research reports about the company. Guggenheim began coverage on Biogen in a research note on Monday, October 23rd. They issued a “buy” rating and a $402.00 target price on the stock. Bank of America increased their target price on Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Morgan Stanley reiterated a “buy” rating on shares of Biogen in a research note on Tuesday, October 17th. Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and increased their target price for the stock from $319.00 to $400.00 in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and increased their target price for the stock from $300.00 to $415.00 in a research note on Tuesday, October 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and an average target price of $354.96.

Shares of Biogen (NASDAQ:BIIB) traded down $2.03 on Friday, reaching $342.41. The company had a trading volume of 1,183,849 shares, compared to its average volume of 1,130,000. The company has a market capitalization of $72,410.00, a P/E ratio of 20.99, a PEG ratio of 1.94 and a beta of 0.73. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. Biogen’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $5.19 earnings per share. sell-side analysts anticipate that Biogen will post 22 EPS for the current year.

In other news, CEO Michel Vounatsos purchased 780 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were purchased at an average price of $320.55 per share, for a total transaction of $250,029.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander J. Denner purchased 30,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 31,560 shares of company stock worth $10,020,858. Insiders own 0.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Atlantic Trust LLC purchased a new position in Biogen in the second quarter valued at about $114,000. Horan Capital Advisors LLC. purchased a new position in Biogen in the third quarter valued at about $128,000. Massey Quick Simon & CO. LLC grew its stake in Biogen by 84.8% in the third 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 during the last quarter. Gs Investments Inc. purchased a new position in Biogen in the second quarter valued at about $136,000. Finally, Patten Group Inc. grew its stake in Biogen by 4,308.7% in the third quarter. Patten Group Inc. now owns 20,368 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 19,906 shares during the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.dailypolitical.com/2018/01/21/biogen-biib-stock-rating-reaffirmed-by-barclays.html.

Biogen Company Profile

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)

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.