Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating reaffirmed by equities research analysts at Mizuho in a research note issued on Sunday. They presently have a $433.00 target price on the biotechnology company’s stock. Mizuho’s price target would suggest a potential upside of 25.93% from the stock’s previous close.
Several other equities analysts have also recently weighed in on BIIB. Stifel Nicolaus reissued a “hold” rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, October 12th. Morgan Stanley reissued a “buy” rating on shares of Biogen in a research report on Tuesday, October 17th. Bank of America boosted their price objective on Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Citigroup cut Biogen from a “buy” rating to a “neutral” rating in a research report on Monday, October 23rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $390.00 price objective on shares of Biogen in a research report on Monday, October 23rd. Eight investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $369.03.
Biogen (BIIB) traded down $2.17 during midday trading on Friday, hitting $343.83. The company had a trading volume of 1,052,081 shares, compared to its average volume of 1,240,000. Biogen has a fifty-two week low of $244.28 and a fifty-two week high of $370.57. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. The firm has a market cap of $72,710.00, a PE ratio of 28.87, a PEG ratio of 1.80 and a beta of 0.75.
In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of the firm’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 transaction, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michel Vounatsos purchased 780 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The shares were acquired at an average price of $320.55 per share, for a total transaction of $250,029.00. Following the completion of the transaction, 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. Over the last quarter, insiders bought 31,560 shares of company stock worth $10,020,858. Corporate insiders own 0.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIIB. Ameriprise Financial Inc. grew its position in Biogen by 35.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after acquiring an additional 600,384 shares during the last quarter. Bank of New York Mellon Corp grew its position in Biogen by 24.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after acquiring an additional 450,207 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Biogen in the 3rd quarter valued at $123,494,000. Jackson Square Partners LLC boosted its position in Biogen by 9.3% in the 3rd quarter. Jackson Square Partners LLC now owns 2,249,253 shares of the biotechnology company’s stock valued at $704,286,000 after buying an additional 191,526 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Biogen by 61.9% in the 3rd quarter. Schroder Investment Management Group now owns 495,471 shares of the biotechnology company’s stock valued at $153,596,000 after buying an additional 189,501 shares during the last quarter. Institutional investors and hedge funds own 88.23% of the company’s stock.
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).
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