Biogen Inc. (BIIB) Upgraded by Vetr Inc. to Strong-Buy
Biogen Inc. (NASDAQ:BIIB) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage currently has a $319.53 price objective on the biotechnology company’s stock. Vetr‘s price target indicates a potential upside of 12.34% from the company’s current price.
Several other analysts also recently weighed in on the company. Barclays PLC restated an “overweight” rating and issued a $360.00 price target (down previously from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Stifel Nicolaus upped their price target on Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein restated an “outperform” rating and issued a $310.00 price target on shares of Biogen in a research note on Tuesday, April 25th. Finally, Piper Jaffray Companies set a $442.00 price target on Biogen and gave the stock a “buy” rating in a research note on Monday, May 15th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and an average price target of $328.81.
Shares of Biogen (BIIB) traded down 3.28% on Thursday, hitting $284.42. The company had a trading volume of 1,590,602 shares. The firm’s 50 day moving average price is $282.82 and its 200-day moving average price is $274.33. Biogen has a 52 week low of $244.28 and a 52 week high of $304.23. The stock has a market capitalization of $60.14 billion, a PE ratio of 18.66 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (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 analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.21 EPS. Analysts forecast that Biogen will post $21.44 earnings per share for the current fiscal year.
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In related news, EVP Susan H. Alexander sold 4,974 shares of the firm’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 transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at $1,622,442.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of BIIB. Country Trust Bank boosted its stake in Biogen by 2.7% in the first quarter. Country Trust Bank now owns 89,818 shares of the biotechnology company’s stock worth $24,558,000 after buying an additional 2,383 shares in the last quarter. CAPROCK Group Inc. boosted its stake in Biogen by 4.0% in the first quarter. CAPROCK Group Inc. now owns 3,016 shares of the biotechnology company’s stock worth $825,000 after buying an additional 115 shares in the last quarter. V Wealth Management LLC boosted its stake in Biogen by 12.4% in the first quarter. V Wealth Management LLC now owns 6,427 shares of the biotechnology company’s stock worth $1,755,000 after buying an additional 710 shares in the last quarter. LGT Capital Partners LTD. boosted its stake in Biogen by 21.2% in the first quarter. LGT Capital Partners LTD. now owns 117,631 shares of the biotechnology company’s stock worth $32,163,000 after buying an additional 20,600 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Biogen by 2.6% in the first quarter. Huntington National Bank now owns 3,007 shares of the biotechnology company’s stock worth $822,000 after buying an additional 76 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors and hedge funds.
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).
To view Vetr’s full report, visit Vetr’s official website.
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