Biogen Inc. (BIIB) Receives New Coverage from Analysts at Guggenheim
Equities research analysts at Guggenheim initiated coverage on shares of Biogen Inc. (NASDAQ:BIIB) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “buy” rating on the biotechnology company’s stock.
Several other equities analysts have also recently commented on BIIB. Citigroup Inc. cut shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price for the company in a research note on Thursday, August 10th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, June 26th. Finally, Bank of America Corporation upped their target price on shares of Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Twelve analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Biogen presently has an average rating of “Buy” and an average price target of $338.59.
Biogen (NASDAQ BIIB) traded down 2.82% during midday trading on Monday, reaching $328.55. 1,883,466 shares of the company traded hands. The firm has a 50 day moving average of $324.65 and a 200-day moving average of $285.82. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The stock has a market capitalization of $69.47 billion, a price-to-earnings ratio of 21.56 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.21 EPS. Analysts forecast that Biogen will post $21.65 EPS for the current fiscal year.
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In other news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction 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 completion of the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of BIIB. BlackRock Inc. raised its stake in Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after purchasing an additional 17,074,075 shares in the last quarter. Janus Henderson Group PLC raised its stake in Biogen by 4,585.3% in the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock valued at $392,265,000 after purchasing an additional 1,414,707 shares in the last quarter. Janus Capital Management LLC raised its stake in Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock valued at $529,524,000 after purchasing an additional 1,301,251 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock valued at $369,709,000 after purchasing an additional 1,295,540 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new position in Biogen in the first quarter valued at about $345,143,000. 87.62% of the stock is 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).
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