Biogen Inc (NASDAQ:BIIB)‘s stock had its “outperform” rating reaffirmed by investment analysts at Sanford C. Bernstein in a research report issued on Friday. They currently have a $310.00 price objective on the biotechnology company’s stock. Sanford C. Bernstein’s price target would indicate a potential upside of 8.72% from the company’s previous close.
Several other equities analysts have also recently issued reports on BIIB. Leerink Swann reiterated a “market perform” rating and set a $361.00 price target (down from $367.00) on shares of Biogen in a research report on Thursday, October 27th. HC Wainwright reiterated a “buy” rating on shares of Biogen in a research report on Thursday, October 27th. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $313.63 price target on the stock. in a research report on Tuesday, November 1st. Piper Jaffray Companies upgraded Biogen from a “neutral” rating to an “overweight” rating and set a $335.00 target price on the stock in a report on Monday, November 7th. They noted that the move was a valuation call. Finally, Mizuho began coverage on Biogen in a report on Monday, November 7th. They issued a “neutral” rating and a $290.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $333.02.
Biogen (NASDAQ:BIIB) traded up 0.13% during trading on Friday, reaching $285.13. The company had a trading volume of 1,768,544 shares. The firm has a market capitalization of $61.57 billion, a price-to-earnings ratio of 16.84 and a beta of 0.72. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The stock has a 50 day moving average price of $280.83 and a 200 day moving average price of $296.10.
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In other Biogen news, Director Robert W. Pangia sold 5,450 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $295.39, for a total transaction of $1,609,875.50. Following the transaction, the director now directly owns 22,078 shares in the company, valued at $6,521,620.42. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of BIIB. Girard Partners LTD. bought a new position in Biogen during the third quarter valued at $289,000. Neuberger Berman Group LLC raised its position in Biogen by 35.3% in the second quarter. Neuberger Berman Group LLC now owns 13,885 shares of the biotechnology company’s stock valued at $3,358,000 after buying an additional 3,620 shares during the period. Airain ltd bought a new position in Biogen during the second quarter valued at $11,477,000. Bank of The West raised its position in Biogen by 8.3% in the second quarter. Bank of The West now owns 32,299 shares of the biotechnology company’s stock valued at $7,810,000 after buying an additional 2,465 shares during the period. Finally, Adell Harriman & Carpenter Inc. raised its position in Biogen by 7.8% in the second quarter. Adell Harriman & Carpenter Inc. now owns 8,408 shares of the biotechnology company’s stock valued at $2,033,000 after buying an additional 608 shares during the period. Institutional investors own 86.97% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
