Biogen Inc. (NASDAQ:BIIB) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a $375.00 price target on the biotechnology company’s stock, up from their prior price target of $311.00. Morgan Stanley’s price objective indicates a potential upside of 14.76% from the company’s current price.

BIIB has been the topic of several other reports. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and increased their target price for the company from $262.00 to $270.00 in a research note on Monday, June 19th. Leerink Swann reiterated a “market perform” rating and set a $338.00 target price (up from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price on the stock. in a research note on Wednesday, July 26th. 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 note on Wednesday, August 16th. Finally, BidaskClub upgraded Biogen from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Thirteen equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $330.66.

Shares of Biogen (NASDAQ BIIB) traded up 3.75% on Thursday, hitting $326.74. The company had a trading volume of 2,159,778 shares. The firm’s 50 day moving average price is $309.33 and its 200-day moving average price is $280.58. Biogen has a 52 week low of $244.28 and a 52 week high of $330.98. The stock has a market capitalization of $69.08 billion, a PE ratio of 21.44 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the company earned $5.21 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts forecast that Biogen will post $21.51 earnings per share for the current fiscal year.

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In related news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Several large investors have recently made changes to their positions in BIIB. Waldron LP boosted its position in shares of Biogen by 17.0% during the first quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after buying an additional 439 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Biogen during the first quarter valued at approximately $1,449,000. Symphony Asset Management LLC boosted its position in shares of Biogen by 3.8% during the first quarter. Symphony Asset Management LLC now owns 5,774 shares of the biotechnology company’s stock valued at $1,578,000 after buying an additional 212 shares during the period. Commerce Bank boosted its position in shares of Biogen by 2.5% during the first quarter. Commerce Bank now owns 28,504 shares of the biotechnology company’s stock valued at $7,794,000 after buying an additional 682 shares during the period. Finally, Peddock Capital Advisors LLC boosted its position in shares of Biogen by 26.1% during the first quarter. Peddock Capital Advisors LLC now owns 2,198 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 455 shares during the period. Institutional investors and hedge funds own 87.65% of the company’s stock.

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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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