Deutsche Bank AG Reiterates “Buy” Rating for Biogen Inc. (BIIB)
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating restated by Deutsche Bank AG in a research report issued to clients and investors on Wednesday. They currently have a $319.00 price target on the biotechnology company’s stock, up from their prior price target of $315.00. Deutsche Bank AG’s target price points to a potential upside of 12.74% from the stock’s previous close.
A number of other research analysts also recently issued reports on BIIB. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price target on the stock. in a research report on Tuesday, April 25th. Stifel Nicolaus boosted their price target on shares of 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) upgraded shares of Biogen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $228.00 to $338.00 in a research report on Wednesday. Leerink Swann restated a “market perform” rating and issued a $338.00 price target (up previously from $304.00) on shares of Biogen in a research report on Wednesday. Finally, BMO Capital Markets restated a “hold” rating and issued a $318.00 price target on shares of Biogen in a research report on Tuesday, July 18th. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Biogen has a consensus rating of “Buy” and an average price target of $328.06.
Shares of Biogen (NASDAQ BIIB) traded up 4.38% during trading on Wednesday, reaching $295.36. 1,492,797 shares of the company traded hands. Biogen has a 12-month low of $244.28 and a 12-month high of $307.76. The firm has a market capitalization of $62.65 billion, a price-to-earnings ratio of 18.50 and a beta of 0.78. The company has a 50 day moving average price of $270.82 and a 200 day moving average price of $273.59.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a net margin of 30.17% and a return on equity of 38.17%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the firm posted $5.21 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Biogen will post $20.96 EPS for the current year.
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In related news, CEO Michel Vounatsos purchased 1,402 shares of Biogen stock in a transaction that occurred on Monday, May 1st. The stock was bought at an average price of $271.35 per share, for a total transaction of $380,432.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of BIIB. Harvest Management bought a new position in Biogen during the third quarter valued at $292,000. Lau Associates raised its position in Biogen by 32.3% in the fourth quarter. Lau Associates now owns 4,920 shares of the biotechnology company’s stock valued at $1,507,000 after buying an additional 1,200 shares during the last quarter. Proficio Capital Partners bought a new position in Biogen during the fourth quarter valued at $733,000. Detwiler Fenton Investment Management bought a new position in Biogen during the fourth quarter valued at $266,000. Finally, Saturna Capital raised its position in Biogen by 62.2% in the third quarter. Saturna Capital now owns 4,886 shares of the biotechnology company’s stock valued at $1,426,000 after buying an additional 1,874 shares during the last quarter. Institutional investors own 87.50% 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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