Piper Jaffray Companies reiterated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research report released on Monday, December 18th. They currently have a $390.00 target price on the biotechnology company’s stock.
Several other research analysts also recently weighed in on BIIB. Vetr downgraded shares of Biogen from a strong-buy rating to a buy rating and set a $319.53 target price for the company. in a report on Wednesday, August 23rd. Robert W. Baird reiterated a hold rating and issued a $290.00 price target on shares of Biogen in a research note on Friday, August 25th. ValuEngine cut shares of Biogen from a buy rating to a hold rating in a research note on Friday, September 1st. Mizuho restated a neutral rating and set a $319.00 target price (up from $274.00) on shares of Biogen in a research report on Wednesday, September 13th. Finally, BMO Capital Markets upped their target price on shares of Biogen from $328.00 to $377.00 and gave the company a market perform rating in a research report on Wednesday, September 13th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $350.13.
Shares of Biogen (NASDAQ:BIIB) traded down $3.65 during mid-day trading on Monday, hitting $333.07. 979,820 shares of the stock were exchanged, compared to its average volume of 1,120,000. The company has a market cap of $70,440.00, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.97 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. Biogen has a 12-month low of $244.28 and a 12-month high of $348.84.
In other Biogen news, CEO Michel Vounatsos purchased 780 shares of the firm’s stock in a transaction dated Saturday, December 29th. The shares were purchased at an average cost of $320.55 per share, with a total value of $250,029.00. Following the completion of the purchase, the chief executive officer now owns 4,879 shares in the company, valued at approximately $1,563,963.45. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The disclosure for this purchase can be found here. In the last quarter, insiders bought 31,560 shares of company stock worth $10,020,858. Company insiders own 0.25% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Horan Capital Advisors LLC. purchased a new stake in shares of Biogen in the 3rd quarter valued at approximately $128,000. Atlantic Trust LLC purchased a new stake in shares of Biogen in the 2nd quarter valued at approximately $114,000. Massey Quick Simon & CO. LLC raised its stake in shares of Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after acquiring an additional 195 shares during the period. Cable Hill Partners LLC raised its stake in shares of Biogen by 224.7% in the 3rd quarter. Cable Hill Partners LLC now owns 487 shares of the biotechnology company’s stock valued at $152,000 after acquiring an additional 337 shares during the period. Finally, Gs Investments Inc. purchased a new stake in shares of Biogen in the 2nd quarter valued at approximately $136,000. 88.11% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2018/01/11/biogen-biib-rating-reiterated-by-piper-jaffray-companies.html.
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).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.