Biogen (NASDAQ:BIIB) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, February 16th, MarketBeat reports.
Other equities analysts have also recently issued research reports about the company. SunTrust Banks reaffirmed a “buy” rating and set a $354.00 target price on shares of Biogen in a research note on Tuesday, October 24th. BMO Capital Markets reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Biogen in a report on Thursday, February 8th. HC Wainwright reiterated a “buy” rating and set a $340.00 price target on shares of Biogen in a report on Wednesday, October 25th. Finally, Canaccord Genuity lifted their price target on Biogen from $340.00 to $350.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $370.07.
Biogen (NASDAQ BIIB) traded up $2.48 during trading hours on Friday, reaching $285.72. The company’s stock had a trading volume of 2,026,366 shares, compared to its average volume of 1,840,000. The company has a current ratio of 2.34, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. Biogen has a 52 week low of $244.28 and a 52 week high of $370.57. The stock has a market cap of $60,450.00, a PE ratio of 16.36, a PEG ratio of 1.54 and a beta of 0.91.
In related news, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the sale, the executive vice president now directly owns 6,553 shares in the company, valued at approximately $1,905,808.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michel Vounatsos bought 780 shares of Biogen stock in a transaction that occurred on Friday, December 29th. The stock was bought at an average price of $320.55 per share, with a total value of $250,029.00. Following the completion of the acquisition, the chief executive officer now owns 4,879 shares in the company, valued at approximately $1,563,963.45. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 8,128 shares of company stock valued at $2,601,512. Corporate insiders own 0.25% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Biogen during the fourth quarter worth approximately $113,000. Prentiss Smith & Co. Inc. bought a new stake in shares of Biogen during the fourth quarter valued at approximately $123,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Biogen by 77.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 174 shares during the period. Horan Capital Advisors LLC. bought a new stake in shares of Biogen during the third quarter valued at approximately $128,000. Finally, Massey Quick Simon & CO. LLC increased its position in shares of Biogen by 84.8% during the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares during the period. Institutional investors own 88.96% of the company’s stock.
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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