Biogen Inc. (BIIB) Rating Reiterated by RBC Capital Markets
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating reaffirmed by analysts at RBC Capital Markets in a research note issued to investors on Tuesday. They presently have a $375.00 price target on the biotechnology company’s stock. RBC Capital Markets’ price target would suggest a potential upside of 22.71% from the stock’s current price.
A number of other research analysts also recently commented on BIIB. Citigroup Inc. downgraded shares of Biogen from a “buy” rating to a “neutral” rating and cut their target price for the company from $345.00 to $295.00 in a research report on Tuesday, June 7th. Leerink Swann reissued a “market perform” rating and set a $319.00 target price on shares of Biogen in a research report on Tuesday, June 7th. Piper Jaffray Cos. reissued a “hold” rating and set a $293.00 target price on shares of Biogen in a research report on Tuesday, June 7th. BMO Capital Markets reissued a “market perform” rating and set a $287.00 target price on shares of Biogen in a research report on Wednesday, June 8th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Biogen in a research report on Wednesday, June 8th. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 305.59 on Tuesday. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The stock has a market cap of $66.96 billion, a PE ratio of 17.85 and a beta of 0.95. The company’s 50 day moving average is $308.50 and its 200 day moving average is $279.69.
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Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.52. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.22 EPS. On average, analysts anticipate that Biogen will post $20.08 EPS for the current fiscal year.
In related news, CEO George A. Scangos sold 157 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were 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 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 at the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the sale, the director now directly owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in BIIB. Howard Hughes Medical Institute purchased a new stake in shares of Biogen during the first quarter worth about $135,000. Kings Point Capital Management bought a new position in Biogen during the second quarter worth approximately $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 worth $174,000 after buying an additional 492 shares during the last quarter. Lakeview Capital Partners LLC bought a new position in Biogen during the second quarter worth approximately $205,000. Finally, BLB&B Advisors LLC bought a new position in Biogen during the second quarter worth approximately $206,000. 86.21% of the stock is owned by hedge funds and other institutional investors.
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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