Biogen Inc (NASDAQ:BIIB)‘s stock had its “hold” rating reissued by stock analysts at Cantor Fitzgerald in a note issued to investors on Thursday. They currently have a $277.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 10.45% from the company’s current price.

The analysts wrote, “A German patient treated for three years with Tysabri and then with a single dose of Ocrevus developed PML.””

BIIB has been the subject of a number of other reports. Mizuho reissued a “sell” rating on shares of Biogen in a report on Monday, February 6th. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $295.39 price target for the company. in a report on Tuesday, February 7th. Piper Jaffray Companies set a $442.00 price target on Biogen and gave the stock a “buy” rating in a report on Monday, May 15th. Royal Bank of Canada reissued a “buy” rating on shares of Biogen in a report on Thursday, February 2nd. Finally, Instinet began coverage on Biogen in a report on Wednesday, March 1st. They issued a “buy” rating and a $345.00 price target for the company. Eleven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Biogen currently has an average rating of “Buy” and a consensus price target of $331.63.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB) traded down 0.86% during mid-day trading on Thursday, hitting $250.80. The company had a trading volume of 833,069 shares. Biogen has a 52-week low of $223.02 and a 52-week high of $333.65. The company has a market capitalization of $53.20 billion, a P/E ratio of 15.71 and a beta of 0.72. The company has a 50-day moving average price of $264.76 and a 200 day moving average price of $282.15.

Biogen (NASDAQ:BIIB) last posted its earnings results 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. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.73 billion. Biogen had a return on equity of 38.48% and a net margin of 32.34%. Biogen’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.79 earnings per share. On average, analysts forecast that Biogen will post $20.48 EPS for the current fiscal year.

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In other news, CMO Alfred Sandrock sold 1,981 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $274.08, for a total value of $542,952.48. Following the completion of the sale, the chief marketing officer now owns 7,060 shares of the company’s stock, valued at $1,935,004.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michel Vounatsos bought 1,333 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was bought at an average cost of $285.39 per share, with a total value of $380,424.87. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 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 corporate insiders.

Several large investors have recently modified their holdings of BIIB. Dillon & Associates Inc. increased its stake in shares of Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock valued at $487,000 after buying an additional 5 shares during the last quarter. Capital Analysts LLC increased its stake in shares of Biogen by 1.4% in the fourth quarter. Capital Analysts LLC now owns 423 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 6 shares during the last quarter. Bienville Capital Management LLC increased its stake in shares of Biogen by 0.7% in the fourth quarter. Bienville Capital Management LLC now owns 861 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 6 shares during the last quarter. Beacon Trust Co. increased its stake in shares of Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 6 shares during the last quarter. Finally, Guardian Life Insurance Co. of America increased its stake in shares of Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 6 shares during the last quarter. 86.97% of the stock is owned by institutional investors.

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).

12 Month Chart for NASDAQ:BIIB

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