Biogen Inc (BIIB) Given Average Recommendation of “Buy” by Analysts

Shares of Biogen Inc (NASDAQ:BIIB) have been given an average rating of “Buy” by the thirty-three brokerages that are presently covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $348.99.

Several brokerages have recently weighed in on BIIB. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Friday. SunTrust Banks assumed coverage on shares of Biogen in a research report on Wednesday, September 20th. They set a “buy” rating and a $360.00 price target on the stock. Mizuho reaffirmed a “neutral” rating and set a $319.00 price target (up previously from $274.00) on shares of Biogen in a research report on Wednesday, September 13th. Raymond James Financial cut shares of Biogen from a “strong-buy” rating to a “market perform” rating and increased their price target for the stock from $244.28 to $319.00 in a research report on Thursday, September 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $340.00 price target on shares of Biogen in a research report on Wednesday, October 25th.

Shares of Biogen (NASDAQ:BIIB) traded up $0.44 during trading on Friday, hitting $340.43. The stock had a trading volume of 512,388 shares, compared to its average volume of 1,070,000. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $71,990.00, a P/E ratio of 20.87, a PEG ratio of 1.95 and a beta of 0.73. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $5.19 earnings per share. sell-side analysts expect that Biogen will post 21.98 earnings per share for the current year.

In other Biogen news, CEO Michel Vounatsos bought 780 shares of the business’s stock in a transaction on Saturday, December 29th. The shares were purchased at an average price of $320.55 per share, with a total value of $250,029.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,563,963.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders acquired 31,560 shares of company stock worth $10,020,858 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Biogen by 2.3% during the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after buying an additional 415,099 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Biogen by 1.3% during the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after buying an additional 182,337 shares during the last quarter. State Street Corp raised its holdings in shares of Biogen by 1.5% during the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock valued at $2,637,973,000 after buying an additional 140,929 shares during 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 buying an additional 561,436 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Biogen by 8.0% during the second quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock valued at $818,731,000 after buying an additional 223,371 shares during the last quarter. 88.11% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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