Oppenheimer set a $400.00 price target on Biogen (NASDAQ:BIIB) in a report issued on Sunday. The brokerage currently has a buy rating on the biotechnology company’s stock. Oppenheimer also issued estimates for Biogen’s Q3 2018 earnings at $6.61 EPS, FY2018 earnings at $25.20 EPS and FY2019 earnings at $25.27 EPS.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity set a $335.00 price target on shares of Biogen and gave the company a buy rating in a report on Wednesday, June 6th. Mizuho set a $423.00 price target on shares of Biogen and gave the company a buy rating in a report on Tuesday, June 5th. BidaskClub raised shares of Biogen from a hold rating to a buy rating in a report on Friday, June 1st. HC Wainwright reissued a buy rating on shares of Biogen in a report on Monday, July 9th. Finally, Nomura reissued a buy rating and issued a $420.00 price target on shares of Biogen in a report on Friday, July 6th. Ten investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $375.52.

Shares of BIIB stock opened at $336.89 on Friday. Biogen has a 12-month low of $249.17 and a 12-month high of $388.67. The firm has a market capitalization of $68.22 billion, a PE ratio of 15.36, a PEG ratio of 1.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.36 and a quick ratio of 2.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.58. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the business earned $5.04 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. equities analysts expect that Biogen will post 25.34 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Northern Trust Corp lifted its position in Biogen by 0.7% during the 2nd quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock worth $839,536,000 after buying an additional 19,730 shares in the last quarter. SP Asset Management bought a new stake in Biogen during the 2nd quarter worth about $443,000. Exane Asset Management lifted its position in Biogen by 6.2% during the 2nd quarter. Exane Asset Management now owns 40,708 shares of the biotechnology company’s stock worth $11,815,000 after buying an additional 2,363 shares in the last quarter. BDO Wealth Advisors LLC lifted its position in Biogen by 635.9% during the 2nd quarter. BDO Wealth Advisors LLC now owns 758 shares of the biotechnology company’s stock worth $220,000 after buying an additional 655 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Biogen by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock worth $685,588,000 after buying an additional 72,668 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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