Biogen Inc. (NASDAQ:BIIB) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $346.83 price objective on the biotechnology company’s stock. Vetr‘s price target points to a potential upside of 6.28% from the company’s previous close.

Several other equities research analysts have also recently weighed in on BIIB. Piper Jaffray Companies set a $442.00 price objective on shares of Biogen and gave the stock a “buy” rating in a research report on Monday, May 15th. Cantor Fitzgerald reissued a “hold” rating and issued a $277.00 target price on shares of Biogen in a report on Thursday, May 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of Biogen in a report on Thursday, May 25th. Mizuho dropped their target price on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a report on Wednesday, May 31st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $318.00 target price on shares of Biogen in a report on Friday, June 2nd. Twelve analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $329.95.

Shares of Biogen (NASDAQ BIIB) traded up 0.75% during mid-day trading on Thursday, reaching $326.33. 1,429,845 shares of the company’s stock were exchanged. The stock has a market cap of $69.00 billion, a price-to-earnings ratio of 21.41 and a beta of 0.77. The stock’s 50-day moving average is $293.33 and its 200-day moving average is $276.98. Biogen has a 52-week low of $244.28 and a 52-week high of $329.84.

Biogen (NASDAQ:BIIB) last released 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. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the company posted $5.21 earnings per share. Biogen’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Biogen will post $21.44 EPS for the current year.

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In other 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 sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, 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 sale, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Several hedge funds have recently made changes to their positions in BIIB. Beacon Trust Co. grew its position in Biogen by 0.5% in the 1st quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America grew its position in Biogen by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 6 shares during the period. Carroll Financial Associates Inc. grew its position in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 6 shares during the period. Trust Co. of Vermont grew its position in Biogen by 0.3% in the 1st quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after purchasing an additional 7 shares during the period. Finally, Buckingham Capital Management Inc. grew its position in Biogen by 0.3% in the 1st quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after purchasing an additional 8 shares during the period. 87.26% of the stock is owned by institutional investors.

About Biogen

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.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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