Biogen Inc. (BIIB) Given Consensus Recommendation of “Buy” by Analysts
Shares of Biogen Inc. (NASDAQ:BIIB) have been given a consensus rating of “Buy” by the twenty-six brokerages that are covering the firm, MarketBeat Ratings reports. Twelve analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $326.05.
Several analysts have recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $307.00 price objective on shares of Biogen in a research note on Wednesday, June 14th. Mizuho lowered their price objective on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research note on Wednesday, May 31st. Instinet assumed coverage on shares of Biogen in a research note on Wednesday, March 1st. They issued a “buy” rating and a $345.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Biogen in a research note on Wednesday, March 29th. Finally, Leerink Swann set a $300.00 price objective on shares of Biogen and gave the company a “hold” rating in a research note on Monday, April 3rd.
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Shares of Biogen (BIIB) traded up 3.96% during midday trading on Monday, hitting $261.70. 1,146,080 shares of the stock traded hands. The stock has a market capitalization of $55.51 billion, a P/E ratio of 16.39 and a beta of 0.83. The firm has a 50-day moving average price of $257.29 and a 200-day moving average price of $276.02. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.23. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.73 billion. Biogen had a net margin of 30.17% and a return on equity of 38.17%. Biogen’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.79 EPS. On average, equities analysts predict that Biogen will post $20.48 earnings per share for the current fiscal year.
In related news, CMO Alfred Sandrock sold 1,981 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $274.08, for a total value of $542,952.48. Following the transaction, the chief marketing officer now directly owns 7,060 shares of the company’s stock, valued at approximately $1,935,004.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander J. Denner purchased 73,858 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The stock was bought at an average cost of $278.50 per share, for a total transaction of $20,569,453.00. The disclosure for this purchase can be found here. Insiders sold a total of 12,957 shares of company stock worth $3,689,473 over the last three months. 0.32% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of BIIB. Capital Guardian Trust Co. increased its stake in Biogen by 130.1% in the fourth quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 203 shares during the period. Pathstone Family Office LLC acquired a new stake in Biogen during the first quarter valued at approximately $102,000. Crestwood Advisors Group LLC acquired a new stake in Biogen during the first quarter valued at approximately $106,000. Harvest Fund Management Co. Ltd acquired a new stake in Biogen during the fourth quarter valued at approximately $110,000. Finally, Thompson Siegel & Walmsley LLC increased its stake in Biogen by 3.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 408 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 12 shares during the period. 87.39% of the stock is currently 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).
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