Biogen (NASDAQ:BIIB) has been assigned a $350.00 price objective by analysts at Oppenheimer in a note issued to investors on Tuesday, November 28th. The firm presently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s target price points to a potential upside of 9.87% from the stock’s current price. Oppenheimer also issued estimates for Biogen’s Q4 2017 earnings at $5.12 EPS, FY2017 earnings at $21.67 EPS, Q2 2018 earnings at $6.07 EPS and FY2021 earnings at $28.85 EPS.
A number of other equities research analysts have also recently issued reports on the company. Vetr cut Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research note on Tuesday, August 29th. ValuEngine lowered Biogen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. SunTrust Banks reissued a “buy” rating and set a $354.00 price target on shares of Biogen in a report on Tuesday, October 24th. Canaccord Genuity started coverage on Biogen in a report on Friday, October 27th. They set a “hold” rating and a $340.00 price target on the stock. Finally, BMO Capital Markets raised Biogen from a “market perform” rating to an “outperform” rating and set a $377.00 price target on the stock in a report on Wednesday, October 25th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Biogen has an average rating of “Buy” and an average target price of $350.13.
Biogen (NASDAQ:BIIB) traded down $1.76 during mid-day trading on Tuesday, reaching $318.57. The company’s stock had a trading volume of 592,022 shares, compared to its average volume of 1,022,884. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. The company has a market capitalization of $67,370.23, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.99 and a beta of 0.73. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84.
In related news, Director Alexander J. Denner purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Biogen by 2.3% in the 2nd quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after purchasing an additional 415,099 shares in the last quarter. Vanguard Group Inc. boosted its position in Biogen by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after acquiring an additional 182,337 shares during the period. State Street Corp boosted its position in Biogen by 1.5% during the 2nd quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after acquiring an additional 140,929 shares during the period. Clearbridge Investments LLC boosted its position in Biogen by 4.0% during the 1st quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after acquiring an additional 351,224 shares during the period. Finally, FMR LLC boosted its position in Biogen by 10.1% during the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after acquiring an additional 561,436 shares during the period. 88.11% of the stock is currently owned by hedge funds and other 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).
