Biogen (BIIB) Upgraded to Buy by BidaskClub
Biogen (NASDAQ:BIIB) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday.
A number of other analysts have also weighed in on BIIB. Vetr upgraded Biogen from a “hold” rating to a “buy” rating and set a $346.83 target price on the stock in a research note on Thursday, September 7th. Mizuho reiterated a “neutral” rating and issued a $319.00 target price (up previously from $274.00) on shares of Biogen in a research note on Wednesday, September 13th. BMO Capital Markets increased their target price on Biogen from $328.00 to $377.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 13th. Royal Bank of Canada started coverage on Biogen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $319.00 target price on the stock. Finally, SunTrust Banks started coverage on Biogen in a research note on Wednesday, September 20th. They issued a “buy” rating and a $360.00 target price on the stock. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Biogen presently has a consensus rating of “Buy” and an average price target of $350.13.
Shares of Biogen (NASDAQ:BIIB) traded up $2.50 on Friday, reaching $342.49. The company had a trading volume of 1,386,163 shares, compared to its average volume of 1,070,000. The company has a market capitalization of $72,960.00, a P/E ratio of 21.00, a PEG ratio of 1.96 and a beta of 0.73. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.
In related news, CEO Michel Vounatsos bought 780 shares of the business’s stock in a transaction on Friday, December 29th. The shares were bought at an average price of $320.55 per share, for a total transaction of $250,029.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, 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 quarter. 0.25% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in Biogen in the third quarter worth about $123,494,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Biogen by 9.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock worth $1,862,000 after acquiring an additional 520 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Biogen by 18.6% in the second quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after acquiring an additional 4,389 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Biogen by 10.5% in the second quarter. Pacer Advisors Inc. now owns 7,028 shares of the biotechnology company’s stock worth $1,907,000 after acquiring an additional 667 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Biogen by 151.3% in the third quarter. Cubist Systematic Strategies LLC now owns 10,646 shares of the biotechnology company’s stock worth $3,333,000 after acquiring an additional 6,409 shares in the last quarter. Institutional investors own 88.11% of the company’s stock.
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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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