Biogen’s (BIIB) “Buy” Rating Reiterated at Barclays

Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating reiterated by equities researchers at Barclays in a report released on Sunday. They presently have a $395.00 price objective on the biotechnology company’s stock. Barclays’ price target would suggest a potential upside of 15.36% from the stock’s previous close.

Several other research firms also recently commented on BIIB. Bank of America upped their price objective on shares of Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Mizuho reiterated a “buy” rating and issued a $400.00 price objective on shares of Biogen in a report on Thursday. Canaccord Genuity set a $340.00 price objective on shares of Biogen and gave the company a “hold” rating in a report on Friday, January 5th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $390.00 price target on shares of Biogen in a research note on Monday, October 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $354.96.

Biogen (NASDAQ BIIB) traded down $2.03 during trading hours on Friday, hitting $342.41. 1,183,849 shares of the company’s stock traded hands, compared to its average volume of 1,130,000. Biogen has a 12-month low of $244.28 and a 12-month high of $348.84. The firm has a market capitalization of $72,410.00, a P/E ratio of 20.99, a P/E/G ratio of 1.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating 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 the consensus estimate of $3.05 billion. During the same period in the previous year, the company earned $5.19 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. equities research analysts expect that Biogen will post 22 earnings per share for the current year.

In related news, Director Robert W. Pangia sold 5,832 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the completion of the transaction, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michel Vounatsos acquired 780 shares of the company’s stock in a transaction that occurred on Saturday, December 29th. The stock was acquired at an average price of $320.55 per share, with a total value of $250,029.00. Following the acquisition, the chief executive officer now owns 4,879 shares in the company, valued at $1,563,963.45. The disclosure for this purchase can be found here. Insiders bought 31,560 shares of company stock valued at $10,020,858 in the last three months. Company insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Freestone Capital Holdings LLC acquired a new stake in shares of Biogen during the 4th quarter worth approximately $659,000. Capital Guardian Trust Co. grew its position in shares of Biogen by 130.1% during the 4th quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company’s stock worth $102,000 after buying an additional 203 shares during the period. Pathstone Family Office LLC acquired a new stake in shares of Biogen during the 1st quarter worth approximately $102,000. Prentiss Smith & Co. Inc. grew its position in shares of Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of Biogen during the 1st quarter worth approximately $106,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

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About Biogen

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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