Biogen Inc. (BIIB) Rating Lowered to Buy at Vetr Inc.
Biogen Inc. (NASDAQ:BIIB) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday. They presently have a $346.47 target price on the biotechnology company’s stock. Vetr‘s price objective points to a potential upside of 11.05% from the company’s previous close.
A number of other research firms also recently weighed in on BIIB. Credit Suisse Group AG reissued a “hold” rating and set a $322.00 price target 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 price target on shares of Biogen in a research report on Wednesday, August 3rd. Jefferies Group reissued a “buy” rating and set a $319.00 price target on shares of Biogen in a research report on Thursday, August 4th. Finally, Zacks Investment Research raised shares of Biogen from a “hold” rating to a “buy” rating and set a $352.00 price target for the company in a research report on Friday, August 12th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $346.22.
Shares of Biogen (NASDAQ:BIIB) traded up 1.61% during trading on Wednesday, reaching $312.00. 1,527,608 shares of the company’s stock were exchanged. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The company’s 50-day moving average is $309.80 and its 200 day moving average is $275.12. The stock has a market capitalization of $68.37 billion, a PE ratio of 18.23 and a beta of 0.90.
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Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.52. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.22 earnings per share. On average, analysts forecast that Biogen will post $20.10 earnings per share for the current year.
In related news, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $280.00, for a total value of $43,960.00. Following the transaction, the chief executive officer now owns 54,779 shares of the company’s stock, valued at approximately $15,338,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute acquired a new position in Biogen during the first quarter valued at $135,000. Kings Point Capital Management acquired a new position in Biogen during the second quarter valued at $145,000. Signaturefd LLC boosted its position in Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 492 shares during the period. Lakeview Capital Partners LLC acquired a new position in Biogen during the second quarter valued at $205,000. Finally, BLB&B Advisors LLC acquired a new position in Biogen during the second quarter valued at $206,000. 86.21% 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.
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