Mizuho Reiterates “Neutral” Rating for Biogen Inc. (BIIB)
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “neutral” rating reissued by research analysts at Mizuho in a report released on Wednesday. They currently have a $319.00 price objective on the biotechnology company’s stock, up from their previous price objective of $274.00. Mizuho’s price target points to a potential downside of 3.24% from the stock’s previous close.
Several other equities research analysts also recently issued reports on BIIB. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and increased their target price for the stock from $262.00 to $270.00 in a research report on Monday, June 19th. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price on the stock in a research report on Thursday, August 10th. Cowen and Company restated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, June 26th. Finally, Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price on the stock in a research report on Wednesday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $331.83.
Biogen (NASDAQ:BIIB) traded down 1.04% during trading on Wednesday, reaching $326.26. The company’s stock had a trading volume of 362,726 shares. The company has a market cap of $68.98 billion, a price-to-earnings ratio of 21.41 and a beta of 0.77. The stock’s 50 day moving average is $294.57 and its 200 day moving average is $277.13. Biogen has a 12 month low of $244.28 and a 12 month high of $330.00.
Biogen (NASDAQ:BIIB) last posted 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 for the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.21 earnings per share. On average, equities analysts expect that Biogen will post $21.44 EPS for the current fiscal year.
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In other news, 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 completion of the sale, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction dated 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 owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Several institutional investors have recently bought and sold shares of BIIB. Pathstone Family Office LLC purchased a new stake in shares of Biogen during the first quarter worth about $102,000. Prentiss Smith & Co. Inc. lifted its holdings in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the period. Atlantic Trust LLC purchased a new stake in Biogen in the second quarter worth about $114,000. Independent Portfolio Consultants Inc. lifted its holdings in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. lifted its holdings in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the period. Institutional investors own 87.26% of the company’s stock.
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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