Biogen Inc. (BIIB) Given Buy Rating at Morgan Stanley
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating reissued by stock analysts at Morgan Stanley in a research note issued to investors on Tuesday.
Other analysts have also issued research reports about the stock. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $262.00 to $270.00 in a research note on Monday, June 19th. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target on the stock. in a report on Wednesday, June 21st. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BidaskClub raised shares of Biogen from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of Biogen in a report on Thursday, June 22nd. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Biogen currently has a consensus rating of “Buy” and an average target price of $339.66.
Shares of Biogen (NASDAQ BIIB) traded up 2.62% during midday trading on Tuesday, hitting $344.47. 1,616,264 shares of the company traded hands. The company has a 50-day moving average price of $319.52 and a 200-day moving average price of $283.51. The stock has a market capitalization of $72.83 billion, a P/E ratio of 22.60 and a beta of 0.77. Biogen has a 52 week low of $244.28 and a 52 week high of $348.65.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Zacks’ 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 company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the company posted $5.21 earnings per share. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts anticipate that Biogen will post $21.57 earnings per share 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 transaction, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Several hedge funds have recently made changes to their positions in BIIB. BlackRock Inc. lifted its holdings in shares of Biogen by 2,762.0% during the 1st quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after acquiring an additional 17,074,075 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Biogen by 4,585.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after acquiring an additional 1,414,707 shares during the period. Janus Capital Management LLC lifted its holdings in shares of Biogen by 204.8% during the 1st quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after acquiring an additional 1,301,251 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Biogen by 2,288.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after acquiring an additional 1,295,540 shares during the period. Finally, Winslow Capital Management LLC purchased a new position in shares of Biogen during the 1st quarter worth about $345,143,000. Institutional investors and hedge funds own 87.62% 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).
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