Biogen Inc (NASDAQ:BIIB) has been given an average recommendation of “Buy” by the thirty-one brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $383.81.
Several research firms recently weighed in on BIIB. BidaskClub upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research report on Tuesday. Oppenheimer set a $380.00 price target on shares of Biogen and gave the company a “buy” rating in a research report on Sunday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $445.00 to $436.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. Leerink Swann set a $340.00 price objective on shares of Biogen and gave the company a “hold” rating in a report on Wednesday, October 24th. Finally, Raymond James set a $400.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Tuesday, October 23rd.
In other news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.29% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its stake in Biogen by 61.1% in the second quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock valued at $508,240,000 after purchasing an additional 664,096 shares in the last quarter. Mainstay Capital Management LLC ADV grew its position in Biogen by 21,407.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock valued at $2,537,000 after acquiring an additional 662,120 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Biogen during the third quarter valued at approximately $218,735,000. American Century Companies Inc. grew its position in Biogen by 32.1% during the third quarter. American Century Companies Inc. now owns 1,507,871 shares of the biotechnology company’s stock valued at $532,746,000 after acquiring an additional 366,361 shares during the last quarter. Finally, Boston Partners bought a new position in Biogen during the second quarter valued at approximately $76,080,000. 87.55% of the stock is currently owned by hedge funds and other institutional investors.
BIIB traded up $1.81 during trading on Thursday, hitting $318.96. 16,853 shares of the company traded hands, compared to its average volume of 1,530,635. The firm has a market cap of $63.00 billion, a P/E ratio of 14.62, a PEG ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. Biogen has a one year low of $249.17 and a one year high of $388.67.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.78 by $0.62. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.31 earnings per share. Equities research analysts predict that Biogen will post 25.58 earnings per share for the current fiscal year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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