Biogen Inc. (BIIB) Upgraded to “Buy” at BidaskClub
Biogen Inc. (NASDAQ:BIIB) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report released on Friday.
Several other brokerages have also recently issued reports on BIIB. BMO Capital Markets reiterated a “market perform” rating and set a $328.00 target price (up from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Vetr cut shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price on the stock. in a report on Wednesday, July 26th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Stifel Nicolaus increased their target price on shares of Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Wednesday, April 26th. Finally, UBS AG reiterated a “neutral” rating and set a $285.00 target price (up from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $329.74.
Biogen (BIIB) traded up 0.76% during midday trading on Friday, reaching $288.27. 745,982 shares of the company traded hands. The stock has a market capitalization of $60.95 billion, a P/E ratio of 18.92 and a beta of 0.79. The company has a 50 day moving average price of $276.09 and a 200-day moving average price of $273.47. Biogen has a one year low of $244.28 and a one year high of $304.23.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the business earned $5.21 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts forecast that Biogen will post $21.44 EPS for the current fiscal year.
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In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock valued at $3,931,380 over the last three months. 0.32% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised 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 period. Janus Capital Management LLC raised 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 period. Massachusetts Financial Services Co. MA raised 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 period. Winslow Capital Management LLC purchased a new position in Biogen during the first quarter valued at $345,143,000. Finally, Manning & Napier Advisors LLC raised its position in Biogen by 563.8% in the second quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock valued at $220,986,000 after buying an additional 691,694 shares during the period. 88.75% of the stock is owned by hedge funds and other institutional investors.
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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