Biogen (BIIB) Stock Rating Reaffirmed by Barclays
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.
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.
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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).
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