SunTrust Banks, Inc. Reaffirms Buy Rating for Biogen Inc. (BIIB)
Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Tuesday. They presently have a $354.00 target price on the biotechnology company’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 12.12% from the company’s current price.
A number of other brokerages also recently issued reports on BIIB. Cantor Fitzgerald reissued a “hold” rating and issued a $279.00 price target on shares of Biogen in a report on Tuesday. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target on the stock in a report on Thursday, August 10th. Citigroup Inc. downgraded shares of Biogen from a “buy” rating to a “neutral” rating in a report on Monday. Cowen and Company reissued a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, June 26th. Twelve research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $340.88.
Biogen (NASDAQ:BIIB) traded down 3.90% during trading on Tuesday, reaching $315.73. 5,849,256 shares of the company’s stock traded hands. The stock has a market cap of $66.76 billion, a price-to-earnings ratio of 20.72 and a beta of 0.77. The company’s 50 day moving average is $324.61 and its 200-day moving average is $286.77. Biogen has a 52-week low of $244.28 and a 52-week high of $348.84.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.61 by $0.70. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.19 earnings per share. On average, analysts anticipate that Biogen will post $21.65 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Pathstone Family Office LLC purchased a new stake in Biogen in the first quarter worth $102,000. Prentiss Smith & Co. Inc. lifted its stake 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 acquiring an additional 50 shares during the period. Atlantic Trust LLC purchased a new stake in Biogen in the second quarter worth $114,000. Independent Portfolio Consultants Inc. lifted its stake 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 acquiring an additional 219 shares during the period. Finally, Winfield Associates Inc. lifted its stake 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 acquiring an additional 67 shares during the period. 87.47% of the stock is owned by institutional investors.
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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