Biogen Inc (BIIB) Receives Average Rating of “Buy” from Brokerages
Biogen Inc (NASDAQ:BIIB) has earned an average recommendation of “Buy” from the twenty-six ratings firms that are presently covering the stock. Eleven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $328.84.
BIIB has been the subject of several recent analyst reports. Credit Suisse Group AG set a $296.00 target price on shares of Biogen and gave the company a “hold” rating in a research note on Saturday, February 4th. Citigroup Inc raised their target price on shares of Biogen from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $310.00 target price on shares of Biogen in a research note on Tuesday, April 25th. Mizuho reiterated a “neutral” rating and issued a $290.00 target price on shares of Biogen in a research note on Monday, April 3rd. Finally, Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $312.67 target price for the company in a research note on Thursday, April 27th.
In other Biogen news, CEO Michel Vounatsos purchased 1,333 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was bought at an average cost of $285.39 per share, for a total transaction of $380,424.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander J. Denner purchased 73,858 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was acquired at an average price of $278.50 per share, with a total value of $20,569,453.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 76,593 shares of company stock valued at $21,330,311 and sold 21,764 shares valued at $6,295,354. 0.32% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Sarissa Capital Management LP acquired a new position in shares of Biogen during the fourth quarter valued at about $87,909,000. Berkshire Asset Management LLC PA raised its position in shares of Biogen by 9.4% in the first quarter. Berkshire Asset Management LLC PA now owns 2,197 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 189 shares during the last quarter. Norges Bank acquired a new position in shares of Biogen during the fourth quarter valued at about $603,929,000. Country Trust Bank raised its position in shares of Biogen by 7.7% in the third quarter. Country Trust Bank now owns 89,404 shares of the biotechnology company’s stock valued at $27,986,000 after buying an additional 6,360 shares during the last quarter. Finally, Boltwood Capital Management raised its position in shares of Biogen by 18.3% in the first quarter. Boltwood Capital Management now owns 2,460 shares of the biotechnology company’s stock valued at $672,000 after buying an additional 380 shares during the last quarter. Institutional investors own 86.97% of the company’s stock.
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Biogen (NASDAQ:BIIB) traded down 0.57% during trading on Tuesday, hitting $248.62. The stock had a trading volume of 2,980,380 shares. The company has a market capitalization of $52.74 billion, a price-to-earnings ratio of 15.57 and a beta of 0.72. The stock has a 50 day moving average price of $266.95 and a 200 day moving average price of $283.02. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, April 25th. The biotechnology company reported $5.20 EPS for the quarter, topping the Zacks’ consensus estimate of $4.97 by $0.23. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the prior year, the business posted $4.79 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Biogen will post $20.48 earnings per share for the current year.
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).
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