Biogen Inc. (BIIB) Receives “Buy” Rating from HC Wainwright
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report issued on Tuesday. They presently have a $360.00 target price on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 18.62% from the company’s current price.
Several other analysts have also issued reports on BIIB. Jefferies Group reissued a “buy” rating on shares of Biogen in a research report on Sunday, May 29th. Credit Suisse Group AG set a $322.00 price target on shares of Biogen and gave the stock a “hold” rating in a research note on Sunday. Leerink Swann reissued a “market perform” rating and issued a $319.00 price target on shares of Biogen in a research note on Wednesday, June 1st. Vetr raised shares of Biogen from a “sell” rating to a “hold” rating and set a $289.05 price target for the company in a research note on Wednesday, July 27th. Finally, Zacks Investment Research cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Eleven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $346.22.
Biogen (NASDAQ:BIIB) opened at 303.50 on Tuesday. The firm’s 50 day moving average is $310.17 and its 200-day moving average is $274.54. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The firm has a market cap of $66.50 billion, a price-to-earnings ratio of 17.73 and a beta of 0.90.
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Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the company earned $4.22 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Biogen will post $20.10 EPS for the current year.
In other Biogen news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total value of $43,960.00. Following the completion of the sale, the chief executive officer now directly owns 54,779 shares of the company’s stock, valued at approximately $15,338,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Howard Hughes Medical Institute acquired a new position in Biogen during the first quarter worth $135,000. Kings Point Capital Management purchased a new position in shares of Biogen during the second quarter worth approximately $145,000. Signaturefd LLC boosted its position in shares of Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares during the period. Lakeview Capital Partners LLC purchased a new position in shares of Biogen during the second quarter worth approximately $205,000. Finally, BLB&B Advisors LLC purchased a new position in shares of Biogen during the second quarter worth approximately $206,000. Institutional investors and hedge funds own 86.23% of the company’s stock.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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