Biogen Inc. (BIIB) Given a $300.00 Price Target at Credit Suisse Group
Biogen Inc. (NASDAQ:BIIB) has been assigned a $300.00 price objective by equities researchers at Credit Suisse Group in a research note issued to investors on Friday. The firm presently has a “hold” rating on the biotechnology company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 6.14% from the company’s previous close.
Other analysts have also recently issued reports about the company. Morgan Stanley reiterated an “equal weight” rating and issued a $307.00 target price on shares of Biogen in a report on Wednesday, June 14th. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and upped their target price for the company from $262.00 to $270.00 in a report on Monday, June 19th. Citigroup Inc. upped their target price on Biogen from $305.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, April 4th. Sanford C. Bernstein restated an “outperform” rating and set a $310.00 price target on shares of Biogen in a report on Tuesday, April 25th. Finally, BidaskClub upgraded Biogen from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Thirteen 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. Biogen currently has a consensus rating of “Buy” and a consensus price target of $325.48.
Shares of Biogen (BIIB) traded up 0.66% during mid-day trading on Friday, hitting $282.65. 1,531,778 shares of the company were exchanged. The company has a market capitalization of $59.95 billion, a price-to-earnings ratio of 17.70 and a beta of 0.77. The firm has a 50 day moving average of $259.24 and a 200 day moving average of $274.78. Biogen has a 12-month low of $234.11 and a 12-month high of $307.76.
Biogen (NASDAQ:BIIB) last announced its earnings results 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. Biogen had a return on equity of 38.17% and a net margin of 30.17%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the business posted $4.79 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. Equities research analysts forecast that Biogen will post $20.49 earnings per share for the current year.
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In other news, Director Brian S. Posner sold 1,084 shares of the 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 in the company, valued at approximately $1,622,442.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michel Vounatsos purchased 1,402 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were purchased at an average price of $271.35 per share, with a total value of $380,432.70. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the last quarter. Norges Bank purchased a new position in Biogen during the fourth quarter valued at $603,929,000. Janus Capital Management LLC increased its position in Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock valued at $529,524,000 after buying an additional 1,301,251 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock valued at $369,709,000 after buying an additional 1,295,540 shares during the last quarter. Finally, Winslow Capital Management LLC purchased a new position in Biogen during the first quarter valued at $345,143,000. Institutional investors own 87.47% of the company’s stock.
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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