Biogen Inc. (BIIB) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Biogen Inc. (NASDAQ:BIIB) have been given a consensus recommendation of “Buy” by the thirty analysts that are currently covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $328.74.
Several equities research analysts recently weighed in on BIIB shares. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $301.89 target price for the company in a report on Monday, May 8th. Barclays PLC restated an “overweight” rating and issued a $360.00 target price (down from $380.00) on shares of Biogen in a report on Sunday, April 23rd. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Stifel Nicolaus boosted their target price on Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a report on Wednesday, April 26th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $310.00 target price on shares of Biogen in a report on Tuesday, April 25th.
Biogen (BIIB) traded up 0.06% on Tuesday, reaching $291.18. 524,479 shares of the company traded hands. The firm has a 50 day moving average price of $276.09 and a 200 day moving average price of $273.47. Biogen has a 52-week low of $244.28 and a 52-week high of $304.23. The stock has a market capitalization of $61.56 billion, a price-to-earnings ratio of 19.11 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.21 EPS. Equities research analysts predict that Biogen will post $21.44 EPS for the current year.
In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now owns 6,330 shares in the company, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock worth $3,931,380 over the last quarter. Company insiders own 0.32% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BIIB. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Biogen by 5.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,966 shares of the biotechnology company’s stock worth $23,056,000 after buying an additional 4,389 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Biogen by 18.6% in the second quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after buying an additional 4,389 shares during the period. High Pointe Capital Management LLC boosted its stake in shares of Biogen by 0.7% in the second quarter. High Pointe Capital Management LLC now owns 4,120 shares of the biotechnology company’s stock worth $1,118,000 after buying an additional 30 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Biogen by 10.5% in the second quarter. Pacer Advisors Inc. now owns 7,028 shares of the biotechnology company’s stock worth $1,907,000 after buying an additional 667 shares during the period. Finally, BDO Wealth Advisors LLC bought a new stake in shares of Biogen during the second quarter worth $542,000. Hedge funds and other institutional investors own 88.70% 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).
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.