Biogen (NASDAQ:BIIB) has been given a $390.00 target price by investment analysts at Goldman Sachs Group in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Goldman Sachs Group’s target price points to a potential upside of 10.25% from the company’s previous close.
BIIB has been the topic of a number of other reports. Citigroup lowered shares of Biogen from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Mizuho set a $400.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Monday, November 13th. Credit Suisse Group upgraded shares of Biogen from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $321.00 to $385.00 in a report on Wednesday, December 20th. Stifel Nicolaus restated a “hold” rating and set a $300.00 price objective on shares of Biogen in a report on Thursday, October 12th. Finally, Oppenheimer set a $350.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Monday, December 4th. Nine investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Biogen has an average rating of “Buy” and an average price target of $356.75.
Shares of Biogen (NASDAQ BIIB) traded up $7.24 during trading hours on Thursday, hitting $353.74. 1,862,739 shares of the company were exchanged, compared to its average volume of 1,160,000. Biogen has a fifty-two week low of $244.28 and a fifty-two week high of $358.00. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $74,810.00, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73.
In other news, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was bought at an average price of $320.55 per share, with a total value of $250,029.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alexander J. Denner acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders acquired a total of 31,560 shares of company stock worth $10,020,858 over the last quarter. Company insiders own 0.25% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. grew its position in shares of Biogen by 6.4% in the 4th quarter. Eqis Capital Management Inc. now owns 7,172 shares of the biotechnology company’s stock valued at $2,285,000 after acquiring an additional 434 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Biogen by 91.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 291,276 shares of the biotechnology company’s stock valued at $92,792,000 after acquiring an additional 139,529 shares during the period. Canal Capital Management LLC grew its position in shares of Biogen by 35.5% in the 4th quarter. Canal Capital Management LLC now owns 2,764 shares of the biotechnology company’s stock valued at $881,000 after acquiring an additional 724 shares during the period. APG Asset Management N.V. grew its position in shares of Biogen by 9.2% in the 4th quarter. APG Asset Management N.V. now owns 519,030 shares of the biotechnology company’s stock valued at $137,698,000 after acquiring an additional 43,603 shares during the period. Finally, Rathbone Brothers plc grew its position in shares of Biogen by 6,582.7% in the 4th quarter. Rathbone Brothers plc now owns 61,013 shares of the biotechnology company’s stock valued at $19,437,000 after acquiring an additional 60,100 shares during the period. 88.18% of the stock is owned by 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).
