Biogen Inc. (BIIB) Lifted to Buy at ValuEngine
Biogen Inc. (NASDAQ:BIIB) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
BIIB has been the topic of several other reports. Sanford C. Bernstein restated an “outperform” rating and set a $310.00 price objective on shares of Biogen in a research report on Friday, February 24th. Leerink Swann set a $300.00 price objective on shares of Biogen and gave the company a “hold” rating in a research report on Monday, April 3rd. Cowen and Company reiterated a “buy” rating and issued a $338.00 price target on shares of Biogen in a report on Tuesday, April 25th. Nomura assumed coverage on shares of Biogen in a report on Wednesday, March 1st. They issued a “neutral” rating on the stock. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $290.00 price target on shares of Biogen in a report on Tuesday, March 7th. Twelve 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. The stock has a consensus rating of “Buy” and a consensus target price of $329.94.
Biogen (BIIB) traded down 0.09% on Thursday, hitting $280.32. 2,439,595 shares of the stock traded hands. Biogen has a 52-week low of $223.02 and a 52-week high of $333.65. The company’s 50 day moving average price is $256.84 and its 200-day moving average price is $275.20. The stock has a market cap of $59.46 billion, a price-to-earnings ratio of 17.56 and a beta of 0.83.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, April 25th. The biotechnology company reported $5.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.97 by $0.23. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.73 billion. Biogen had a net margin of 30.17% and a return on equity of 38.17%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $4.79 EPS. On average, analysts forecast that Biogen will post $20.46 earnings per share for the current fiscal year.
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In other Biogen 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 completion of the sale, the chief marketing officer now directly owns 7,060 shares of the company’s stock, valued at approximately $1,935,004.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexander J. Denner acquired 73,858 shares of the stock in a transaction on Thursday, April 27th. The stock was bought at an average cost 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 three months, insiders sold 12,957 shares of company stock valued at $3,689,473. 0.32% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BIIB. Dillon & Associates Inc. boosted its stake in 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 period. Capital Analysts LLC boosted its stake in 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 period. Bienville Capital Management LLC boosted its stake in 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 period. Beacon Trust Co. boosted its stake in 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 period. Finally, Guardian Life Insurance Co. of America boosted its stake in 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 period. 87.39% 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).
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