Biogen Inc. (NASDAQ:BIIB) Given “Neutral” Rating at UBS AG
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “neutral” rating restated by research analysts at UBS AG in a report issued on Wednesday, www.flashratings.com reports. They currently have a $285.00 target price on the biotechnology company’s stock, up from their prior target price of $270.00. UBS AG’s price target suggests a potential upside of 0.72% from the stock’s current price.
Several other brokerages have also recently commented on BIIB. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 target price for the company. in a research report on Tuesday, April 25th. Stifel Nicolaus raised their target price on Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) raised Biogen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $228.00 to $338.00 in a research report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $311.00 target price (up from $301.00) on shares of Biogen in a research report on Wednesday. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $319.00 target price (up from $315.00) on shares of Biogen in a research report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $328.82.
Biogen (NASDAQ:BIIB) traded up 4.13% during mid-day trading on Wednesday, reaching $294.65. 2,300,703 shares of the company traded hands. The company has a market capitalization of $62.50 billion, a P/E ratio of 18.45 and a beta of 0.78. The stock has a 50 day moving average price of $270.82 and a 200-day moving average price of $273.59. Biogen has a 52-week low of $244.28 and a 52-week high of $307.76.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 38.17% and a net margin of 30.17%. Biogen’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $5.21 earnings per share. Analysts expect that Biogen will post $20.96 EPS for the current fiscal year.
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In other Biogen news, CEO Michel Vounatsos acquired 1,402 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was acquired at an average cost of $271.35 per share, for a total transaction of $380,432.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alexander J. Denner acquired 73,858 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was acquired at an average price of $278.50 per share, with a total value of $20,569,453.00. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Berkshire Asset Management LLC PA boosted its stake in Biogen by 9.4% in the first quarter. Berkshire Asset Management LLC PA now owns 2,197 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 189 shares during the last quarter. Wrapmanager Inc. boosted its stake in Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock valued at $1,511,000 after buying an additional 396 shares during the last quarter. Savant Capital LLC boosted its stake in Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares during the last quarter. Boltwood Capital Management boosted its stake in Biogen by 18.3% in the first quarter. Boltwood Capital Management now owns 2,460 shares of the biotechnology company’s stock valued at $672,000 after buying an additional 380 shares during the last quarter. Finally, Reilly Financial Advisors LLC boosted its stake in Biogen by 5.1% in the first quarter. Reilly Financial Advisors LLC now owns 1,130 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 87.50% 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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