Biogen (NASDAQ:BIIB) has been assigned a $340.00 target price by equities researchers at Canaccord Genuity in a research note issued to investors on Friday. The firm presently has a “hold” rating on the biotechnology company’s stock. Canaccord Genuity’s price target would suggest a potential downside of 0.73% from the stock’s previous close.
A number of other equities research analysts have also issued reports on BIIB. Mizuho set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Friday. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday. Nomura lifted their price objective on shares of Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. Sanford C. Bernstein set a $318.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, November 28th. Finally, Oppenheimer set a $350.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Monday, December 4th. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $350.13.
Biogen (BIIB) opened at $342.49 on Friday. 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 stock has a market cap of $71,900.03, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. Biogen has a 12-month low of $244.28 and a 12-month high of $348.84.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the business posted $5.19 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. equities analysts forecast that Biogen will post 22 EPS for the current year.
In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the acquisition, the director now directly 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 can be accessed through this hyperlink. Also, CEO Michel Vounatsos bought 780 shares of the stock in a transaction on Friday, December 29th. The stock was purchased at an average cost of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders purchased 31,560 shares of company stock worth $10,020,858 over the last 90 days. 0.25% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Horan Capital Advisors LLC. bought a new stake in Biogen in the third quarter valued at approximately $128,000. Atlantic Trust LLC bought a new stake in Biogen in the second quarter valued at approximately $114,000. Massey Quick Simon & CO. LLC increased its stake in Biogen by 84.8% in the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares in the last quarter. Cable Hill Partners LLC increased its stake in Biogen by 224.7% in the third quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock valued at $152,000 after purchasing an additional 337 shares in the last quarter. Finally, Gs Investments Inc. bought a new stake in Biogen in the second quarter valued at approximately $136,000. 88.11% of the stock is owned by hedge funds and other 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).