Biogen (NASDAQ:BIIB) had its price target raised by analysts at Nomura from $355.00 to $420.00 in a research report issued to clients and investors on Saturday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Nomura’s price target points to a potential upside of 31.84% from the company’s current price.
BIIB has been the subject of several other reports. Citigroup lowered Biogen from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Mizuho set a $400.00 price target on Biogen and gave the company a “buy” rating in a research report on Monday, November 13th. Stifel Nicolaus restated a “hold” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, October 12th. Credit Suisse Group upgraded Biogen from a “neutral” rating to an “outperform” rating and raised their price target for the company from $321.00 to $385.00 in a research report on Wednesday, December 20th. Finally, Oppenheimer set a $350.00 price target on Biogen and gave the company a “buy” rating in a research report on Monday, December 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $350.13.
Biogen (NASDAQ BIIB) opened at $318.57 on Friday. The stock has a market capitalization of $67,742.39, a P/E ratio of 19.53, a PEG ratio of 2.00 and a beta of 0.73. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. Biogen has a twelve month low of $244.28 and a twelve month high of $348.84.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the acquisition, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in Biogen in the 3rd quarter worth approximately $123,494,000. Botty Investors LLC raised its holdings in Biogen by 75.0% in the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock worth $3,048,000 after acquiring an additional 4,812 shares during the last quarter. BB&T Securities LLC raised its holdings in Biogen by 25.0% in the 2nd quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock worth $3,524,000 after acquiring an additional 2,598 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Biogen by 9.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,948 shares of the biotechnology company’s stock worth $1,862,000 after acquiring an additional 520 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in Biogen by 18.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after acquiring an additional 4,389 shares during the last quarter. Hedge funds and other institutional investors own 88.11% 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).
