Biogen Inc. (BIIB) Receives “Equal Weight” Rating from Morgan Stanley
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a research report issued to clients and investors on Monday.
BIIB has been the topic of a number of other research reports. Leerink Swann set a $300.00 target price on Biogen and gave the stock a “hold” rating in a research note on Monday, April 3rd. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price on the stock in a research note on Tuesday, June 27th. Deutsche Bank AG started coverage on Biogen in a research note on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price on the stock. Cowen and Company restated a “buy” rating and issued a $338.00 target price on shares of Biogen in a research note on Tuesday, April 25th. Finally, Jefferies Group LLC set a $289.00 target price on Biogen and gave the stock a “hold” rating in a research note on Tuesday, April 4th. Twelve equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Biogen has an average rating of “Buy” and a consensus target price of $327.72.
Shares of Biogen (NASDAQ:BIIB) opened at 271.74 on Monday. The company has a market cap of $57.64 billion, a price-to-earnings ratio of 17.02 and a beta of 0.77. Biogen has a 1-year low of $227.01 and a 1-year high of $307.76. The firm has a 50-day moving average price of $259.24 and a 200 day moving average price of $274.78.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.23. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the business earned $4.79 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Biogen will post $20.48 EPS for the current fiscal year.
In related news, VP Paul J. Clancy sold 9,892 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $290.00, for a total value of $2,868,680.00. Following the completion of the transaction, the vice president now directly owns 10,813 shares in the company, valued at $3,135,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the transaction, the director now owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BIIB. Paulson & CO. Inc. bought a new position in shares of Biogen during the fourth quarter valued at about $14,803,000. Ellington Management Group LLC bought a new position in shares of Biogen during the fourth quarter valued at about $624,000. Ancora Advisors LLC bought a new position in shares of Biogen during the fourth quarter valued at about $1,615,000. Seven Eight Capital LP bought a new position in shares of Biogen during the fourth quarter valued at about $1,106,000. Finally, Hilltop Holdings Inc. raised its position in shares of Biogen by 1.0% in the fourth quarter. Hilltop Holdings Inc. now owns 4,069 shares of the biotechnology company’s stock valued at $1,154,000 after buying an additional 40 shares during the period. Institutional investors own 87.36% 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).
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