Biogen Inc. (BIIB) PT Set at $367.00 by Leerink Swann
Biogen Inc. (NASDAQ:BIIB) received a $367.00 price target from equities research analysts at Leerink Swann in a research report issued to clients and investors on Wednesday. The brokerage presently has a a “hold” rating on the biotechnology company’s stock. Leerink Swann’s price objective points to a potential upside of 25.74% from the company’s current price.
A number of other research analysts also recently commented on BIIB. Credit Suisse Group AG set a $322.00 price objective on Biogen and gave the stock a “hold” rating in a research note on Sunday, September 18th. Vetr upgraded Biogen from a “sell” rating to a “hold” rating and set a $317.79 price objective for the company in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Morgan Stanley restated a “buy” rating and set a $385.00 price objective on shares of Biogen in a research note on Wednesday, August 3rd. Finally, Bank of America Corp. restated a “buy” rating on shares of Biogen in a research note on Thursday, June 30th. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $347.34.
Biogen (NASDAQ:BIIB) traded up 1.53% on Wednesday, hitting $296.34. The stock had a trading volume of 1,088,663 shares. The stock has a 50-day moving average of $306.87 and a 200-day moving average of $280.59. The company has a market cap of $64.93 billion, a PE ratio of 17.31 and a beta of 0.95. Biogen has a one year low of $223.02 and a one year high of $333.65.
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Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.52. The firm earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.22 EPS. Equities analysts expect that Biogen will post $20.08 earnings per share for the current fiscal year.
In other news, CEO George A. Scangos sold 157 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Adriana Karaboutis sold 262 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the transaction, the executive vice president now directly owns 7,579 shares in the company, valued at approximately $2,364,193.26. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BIIB. Kings Point Capital Management bought a new position in shares of Biogen during the second quarter worth approximately $145,000. Signaturefd LLC raised 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 in the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in Biogen during the third quarter worth about $203,000. Lakeview Capital Partners LLC acquired a new stake in Biogen during the second quarter worth about $205,000. Finally, BLB&B Advisors LLC acquired a new stake in Biogen during the second quarter worth about $206,000. 86.21% of the stock is currently owned by institutional investors and hedge funds.
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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