Wedbush started coverage on shares of Biogen (NASDAQ:BIIB) in a research note released on Wednesday, Benzinga reports. The firm issued a neutral rating and a $231.00 price target on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on BIIB. BMO Capital Markets started coverage on shares of Biogen in a research note on Friday, February 22nd. They issued a market perform rating and a $322.00 price target for the company. Mizuho set a $427.00 price target on shares of Biogen and gave the stock a buy rating in a research note on Tuesday, January 29th. Bank of America downgraded shares of Biogen from a buy rating to a neutral rating in a research note on Thursday, March 21st. Citigroup lifted their price target on shares of Biogen from $372.00 to $380.00 and gave the stock an outperform rating in a research note on Wednesday, January 30th. Finally, Atlantic Securities downgraded shares of Biogen from an overweight rating to a neutral rating in a research note on Thursday, March 21st. Three research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $283.23.

Shares of Biogen stock opened at $227.06 on Wednesday. Biogen has a 52-week low of $216.12 and a 52-week high of $388.67. The company has a quick ratio of 2.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $44.03 billion, a P/E ratio of 8.67, a PEG ratio of 1.04 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.10. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm earned $6.05 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Biogen will post 29.58 EPS for the current fiscal year.

In other Biogen news, CEO Michel Vounatsos purchased 4,351 shares of Biogen stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert W. Pangia sold 6,114 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the completion of the sale, the director now owns 24,701 shares of the company’s stock, valued at approximately $8,115,513.55. The disclosure for this sale can be found here. Insiders have bought a total of 173,035 shares of company stock valued at $39,759,632 in the last 90 days. Insiders own 0.29% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in BIIB. Oregon Public Employees Retirement Fund raised its position in Biogen by 27,620.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 14,257,427 shares during the last quarter. Norges Bank purchased a new stake in Biogen in the 4th quarter valued at $644,940,000. AQR Capital Management LLC raised its position in Biogen by 33.7% in the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock valued at $991,793,000 after purchasing an additional 1,063,775 shares during the last quarter. Boston Partners raised its position in Biogen by 424.3% in the 1st quarter. Boston Partners now owns 922,718 shares of the biotechnology company’s stock valued at $218,113,000 after purchasing an additional 746,711 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Biogen by 60.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,631,814 shares of the biotechnology company’s stock valued at $385,728,000 after purchasing an additional 617,100 shares during the last quarter. Hedge funds and other institutional investors own 88.33% of the company’s stock.

About Biogen

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

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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