Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating restated by analysts at Credit Suisse Group in a research report issued on Monday. They currently have a $384.00 price target on the biotechnology company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 37.19% from the stock’s previous close.
A number of other research firms also recently weighed in on BIIB. HC Wainwright reissued a “buy” rating and set a $363.00 target price (up previously from $340.00) on shares of Biogen in a research report on Friday, January 26th. BidaskClub downgraded shares of Biogen from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Citigroup reissued an “outperform” rating and set a $380.00 target price (up previously from $350.00) on shares of Biogen in a research report on Tuesday, January 16th. Mizuho set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Jefferies Group reissued a “hold” rating on shares of Biogen in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $370.07.
Biogen (BIIB) traded down $6.20 during trading hours on Monday, reaching $279.90. 2,329,746 shares of the company’s stock were exchanged, compared to its average volume of 1,800,000. The firm has a market cap of $59,220.00, a P/E ratio of 16.03, a PEG ratio of 1.57 and a beta of 0.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 2.07. Biogen has a twelve month low of $244.28 and a twelve month high of $370.57.
In related news, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now directly 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 is available through the SEC website. Also, EVP Alfred Sandrock sold 259 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the transaction, the executive vice president now owns 6,553 shares in the company, valued at $1,905,808.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,128 shares of company stock worth $2,601,512. 0.25% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of BIIB. Captrust Financial Advisors bought a new position in Biogen during the 4th quarter valued at $113,000. Prentiss Smith & Co. Inc. bought a new position in Biogen during the 4th quarter valued at $123,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Biogen by 77.0% during the 4th 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 in the last quarter. Horan Capital Advisors LLC. bought a new position in Biogen during the 3rd quarter valued at $128,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in Biogen during the 4th quarter valued at $133,000. Institutional investors own 88.96% of the company’s stock.
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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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