Biogen (BIIB) Earns Buy Rating from JPMorgan Chase & Co.

Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating reaffirmed by JPMorgan Chase & Co. in a research report issued on Thursday.

BIIB has been the topic of several other research reports. Royal Bank of Canada reiterated a “hold” rating and set a $321.00 price target on shares of Biogen in a research report on Tuesday, December 5th. Nomura increased their price target on shares of Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a research report on Saturday, December 30th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Mizuho set a $400.00 price target on shares of Biogen and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, SunTrust Banks increased their price target on shares of Biogen to $392.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Eight analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $369.03.

Shares of Biogen (BIIB) opened at $326.89 on Thursday. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. The stock has a market cap of $70,420.76, a P/E ratio of 27.42, a P/E/G ratio of 1.73 and a beta of 0.75. Biogen has a 52-week low of $244.28 and a 52-week high of $370.57.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.04 EPS. analysts forecast that Biogen will post 24.88 earnings per share for the current fiscal year.

In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the sale, the director now directly owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The disclosure for this sale can be found here. Insiders have purchased 31,560 shares of company stock valued at $10,020,858 in the last three months. 0.25% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Atlantic Trust LLC purchased a new position in Biogen in the second quarter valued at about $114,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Biogen by 77.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 174 shares during the last quarter. Horan Capital Advisors LLC. purchased a new position in Biogen in the third quarter valued at about $128,000. Massey Quick Simon & CO. LLC boosted 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 acquiring an additional 195 shares during the last quarter. Finally, Gs Investments Inc. purchased a new position in Biogen in the second quarter valued at about $136,000. Institutional investors and hedge funds own 88.11% 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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