Biogen (NASDAQ:BIIB) has been given a $400.00 price target by investment analysts at Mizuho in a report issued on Thursday. The firm currently has a “buy” rating on the biotechnology company’s stock. Mizuho’s target price would indicate a potential upside of 19.95% from the stock’s current price.
BIIB has been the topic of several other reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $321.00 price target on shares of Biogen in a report on Tuesday, December 5th. Vetr lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $316.82 price target on the stock. in a report on Monday, September 4th. Morgan Stanley raised shares of Biogen from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $311.00 to $375.00 in a report on Thursday, October 5th. ValuEngine lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, HC Wainwright reissued a “buy” rating and set a $340.00 target price on shares of Biogen in a research note on Wednesday, October 25th. Eleven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $347.64.
Biogen (NASDAQ:BIIB) traded up $6.45 during trading hours on Thursday, reaching $333.47. 1,276,500 shares of the company’s stock traded hands, compared to its average volume of 1,470,501. Biogen has a one year low of $244.28 and a one year high of $348.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The stock has a market capitalization of $69,157.17, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73.
In other Biogen news, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BIIB. Janus Henderson Group PLC increased its holdings in shares of Biogen by 4,585.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after buying an additional 1,414,707 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of 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 buying an additional 600,384 shares during the last quarter. FMR LLC increased its holdings in shares of Biogen by 10.1% during the 2nd quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after buying an additional 561,436 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 buying an additional 450,207 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Biogen by 28.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after buying an additional 426,821 shares during the last quarter. Institutional investors and hedge funds own 88.12% 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).
