Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday. They presently have a $360.00 target price on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 18.62% from the stock’s current price.

A number of other research firms have also recently commented on BIIB. Vetr cut shares of Biogen from a “hold” rating to a “sell” rating and set a $299.76 target price for the company. in a research report on Tuesday, August 2nd. Credit Suisse Group AG reissued a “hold” rating and set a $322.00 target price on shares of Biogen in a research report on Wednesday, August 3rd. Piper Jaffray Cos. reissued a “neutral” rating on shares of Biogen in a research report on Wednesday, August 3rd. Morgan Stanley reissued a “buy” rating and set a $385.00 target price on shares of Biogen in a research report on Wednesday, August 3rd. Finally, Jefferies Group reissued a “buy” rating and set a $319.00 target price on shares of Biogen in a research report on Thursday, August 4th. Eleven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $346.22.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Shares of Biogen (NASDAQ:BIIB) opened at 303.50 on Tuesday. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The company has a market cap of $66.50 billion, a P/E ratio of 17.73 and a beta of 0.90. The stock’s 50 day moving average is $310.17 and its 200-day moving average is $274.54.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/hc-wainwright-reiterates-buy-rating-for-biogen-inc-biib-2.html

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the firm earned $4.22 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. 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 Biogen stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $280.00, for a total transaction of $43,960.00. Following the transaction, the chief executive officer now directly owns 54,779 shares of the company’s stock, valued at $15,338,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

A number of institutional investors have recently modified their holdings of BIIB. Howard Hughes Medical Institute purchased a new position in shares of Biogen during the first quarter worth approximately $135,000. Kings Point Capital Management bought a new stake in Biogen during the second quarter worth about $145,000. Signaturefd LLC increased its stake in 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 bought a new stake in Biogen during the second quarter worth about $205,000. Finally, BLB&B Advisors LLC bought a new stake in Biogen during the second quarter worth about $206,000. 86.23% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:BIIB

Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.