Biogen (BIIB) PT Set at $350.00 by Oppenheimer
Biogen (NASDAQ:BIIB) received a $350.00 target price from stock analysts at Oppenheimer in a research note issued to investors on Monday. The firm presently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s price target would indicate a potential upside of 9.42% from the stock’s current price.
A number of other research firms have also recently commented on BIIB. Mizuho set a $400.00 target price on Biogen and gave the stock a “buy” rating in a research note on Monday, November 13th. Goldman Sachs Group 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. Vetr cut Biogen from a “buy” rating to a “hold” rating and set a $316.82 target price on the stock. in a research note on Monday, September 4th. Morgan Stanley upgraded Biogen from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Finally, ValuEngine cut Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Twelve research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $344.60.
Biogen (NASDAQ:BIIB) traded up $2.47 during midday trading on Monday, reaching $319.87. 915,127 shares of the company traded hands, compared to its average volume of 1,486,585. Biogen has a twelve month low of $244.28 and a twelve month high of $348.84. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The firm has a market cap of $67,810.00, a P/E ratio of 14.79, a P/E/G ratio of 1.99 and a beta of 0.73.
In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the acquisition, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its stake in shares of Biogen by 4,585.3% during 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 during the period. Ameriprise Financial Inc. raised its holdings in shares of Biogen by 35.1% during the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock valued at $723,142,000 after acquiring an additional 600,384 shares in the last quarter. FMR LLC raised its holdings in shares of Biogen by 10.1% during the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after acquiring an additional 561,436 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Biogen by 24.0% during the third quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock valued at $728,314,000 after acquiring an additional 450,207 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Biogen by 28.8% during the second quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock valued at $517,434,000 after acquiring an additional 426,821 shares in the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.
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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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