Biogen (NASDAQ:BIIB) received a $378.00 price target from analysts at JPMorgan Chase & Co. in a research note issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 6.86% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Guggenheim initiated coverage on Biogen in a report on Monday, October 23rd. They set a “buy” rating and a $402.00 target price on the stock. Bank of America boosted their target price on Biogen from $358.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. Morgan Stanley reissued a “buy” rating on shares of Biogen in a report on Tuesday, October 17th. Mizuho raised Biogen from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $319.00 to $400.00 in a report on Tuesday, October 17th. Finally, Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and upped their price target for the company from $300.00 to $415.00 in a report on Tuesday, October 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $356.75.
Shares of Biogen (BIIB) traded up $7.24 during trading hours on Thursday, reaching $353.74. The company had a trading volume of 1,862,739 shares, compared to its average volume of 1,160,000. Biogen has a 1 year low of $244.28 and a 1 year high of $358.00. The company has a market capitalization of $74,810.00, a PE ratio of 21.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19.
In other news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michel Vounatsos bought 780 shares of the business’s stock in a transaction on Friday, December 29th. The shares were purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 31,560 shares of company stock worth $10,020,858. Company insiders own 0.25% of the company’s stock.
A number of large investors have recently made changes to their positions in BIIB. Northern Trust Corp raised its stake in Biogen by 8.0% during the 2nd quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock valued at $818,731,000 after purchasing an additional 223,371 shares during the period. Vanguard Group Inc. raised its stake in Biogen by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after purchasing an additional 182,337 shares during the period. FMR LLC grew 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 valued at $1,656,390,000 after acquiring an additional 561,436 shares in the last quarter. ETRADE Capital Management LLC grew its holdings in shares of Biogen by 0.9% during the 2nd quarter. ETRADE Capital Management LLC now owns 7,467 shares of the biotechnology company’s stock valued at $2,026,000 after acquiring an additional 66 shares in the last quarter. Finally, TIAA FSB purchased a new position in shares of Biogen during the 2nd quarter valued at $3,692,000. 88.18% of the stock is currently owned by institutional investors.
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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).
