Biogen Inc. (BIIB) Given a $367.00 Price Target by Leerink Swann Analysts
Biogen Inc. (NASDAQ:BIIB) received a $367.00 price target from equities research analysts at Leerink Swann in a report issued on Wednesday. The firm currently has a a “hold” rating on the biotechnology company’s stock. Leerink Swann’s price target would suggest a potential upside of 25.74% from the company’s current price.
BIIB has been the topic of a number of other reports. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $343.10 price target on the stock in a research report on Thursday, September 29th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $386.00 price target on shares of Biogen in a research report on Friday, September 16th. BMO Capital Markets reiterated a “market perform” rating and set a $304.00 price target on shares of Biogen in a research report on Tuesday, October 4th. HC Wainwright reiterated a “buy” rating and set a $360.00 price target on shares of Biogen in a research report on Thursday, September 8th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $268.00 price target on shares of Biogen in a research report on Wednesday, June 22nd. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and an average price target of $347.34.
Shares of Biogen (NASDAQ:BIIB) traded up 1.48% during trading on Wednesday, reaching $296.21. The company had a trading volume of 1,031,262 shares. The stock’s 50-day moving average price is $306.87 and its 200-day moving average price is $280.59. The stock has a market capitalization of $64.91 billion, a PE ratio of 17.30 and a beta of 0.95. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65.
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 https://www.americanbankingnews.com/2016/10/13/biogen-inc-biib-given-a-367-00-price-target-by-leerink-swann-analysts.html
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the firm posted $4.22 earnings per share. Biogen’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts forecast that Biogen will post $20.08 earnings per share for the current fiscal year.
In other news, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the sale, the director now directly owns 19,663 shares of the company’s stock, valued at $6,174,182. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Adriana Karaboutis sold 380 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $313.00, for a total value of $118,940.00. Following the completion of the sale, the executive vice president now directly owns 7,172 shares in the company, valued at $2,244,836. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.
Several large investors have recently modified their holdings of BIIB. Bogle Investment Management L P DE acquired a new stake in shares of Biogen during the first quarter valued at about $11,662,000. Prudential PLC increased its stake in shares of Biogen by 396.9% in the first quarter. Prudential PLC now owns 28,247 shares of the biotechnology company’s stock valued at $7,353,000 after buying an additional 22,562 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Biogen by 4.0% in the first quarter. Geode Capital Management LLC now owns 1,995,002 shares of the biotechnology company’s stock valued at $518,399,000 after buying an additional 75,964 shares in the last quarter. Altrinsic Global Advisors LLC acquired a new stake in shares of Biogen during the first quarter valued at about $28,965,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Biogen by 17.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,124,950 shares of the biotechnology company’s stock valued at $292,847,000 after buying an additional 166,534 shares in the last quarter. 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.
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.