Shares of Biogen Inc. (NASDAQ:BIIB) have received an average rating of “Buy” from the thirty ratings firms that are presently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $341.75.
Several equities analysts have weighed in on the company. Bank of America Corporation lifted their target price on Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and lifted their target price for the company from $300.00 to $415.00 in a research report on Tuesday, October 17th. Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a research report on Tuesday, October 17th. Mizuho raised Biogen from a “neutral” rating to a “buy” rating and lifted their target price for the company from $319.00 to $400.00 in a research report on Tuesday, October 17th. Finally, BMO Capital Markets lifted their target price on Biogen from $328.00 to $377.00 and gave the company a “market perform” rating in a research report on Wednesday, September 13th.
In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Botty Investors LLC grew its holdings in Biogen by 75.0% in the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after purchasing an additional 4,812 shares during the last quarter. BB&T Securities LLC grew its holdings in Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after purchasing an additional 2,598 shares during the last quarter. Vanguard Group Inc. grew its holdings in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after purchasing an additional 342,568 shares during the last quarter. Israel Discount Bank of New York acquired a new stake in Biogen in the first quarter valued at $894,000. Finally, Neuberger Berman Group LLC grew its holdings in Biogen by 18.6% in the second quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock valued at $7,591,000 after purchasing an additional 4,389 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.
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Biogen (BIIB) traded down 1.26% on Friday, hitting $338.10. 1,909,267 shares of the stock were exchanged. The stock’s 50 day moving average price is $324.65 and its 200 day moving average price is $285.82. The firm has a market cap of $71.49 billion, a PE ratio of 22.19 and a beta of 0.77. Biogen has a 52-week low of $244.28 and a 52-week high of $348.84.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $5.21 EPS. Equities research analysts forecast that Biogen will post $21.63 earnings per share for the current year.
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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