Credit Suisse Group set a $384.00 price objective on Biogen (NASDAQ:BIIB) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other equities analysts also recently issued research reports about the company. BMO Capital Markets reiterated a buy rating on shares of Biogen in a research note on Thursday, January 25th. JPMorgan Chase reiterated a buy rating on shares of Biogen in a research note on Thursday, February 8th. Canaccord Genuity lifted their price target on Biogen from $340.00 to $350.00 and gave the company a hold rating in a research note on Wednesday, January 24th. Oppenheimer lifted their price target on Biogen from $380.00 to $400.00 and gave the company a buy rating in a research note on Friday, January 26th. Finally, Mizuho reiterated a buy rating and set a $433.00 price target (up previously from $400.00) on shares of Biogen in a research note on Sunday, February 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $366.49.
Shares of Biogen stock opened at $263.02 on Tuesday. Biogen has a one year low of $244.28 and a one year high of $370.57. The stock has a market capitalization of $56,279.91, a P/E ratio of 12.20, a PEG ratio of 1.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 2.07.
In related news, EVP Alfred Sandrock sold 743 shares of Biogen stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $292.00, for a total value of $216,956.00. Following the sale, the executive vice president now owns 6,553 shares of the company’s stock, valued at approximately $1,913,476. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,296 shares of company stock worth $678,993 in the last ninety days. 0.25% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors bought a new stake in shares of Biogen in the 4th quarter worth approximately $113,000. Prentiss Smith & Co. Inc. bought a new stake in shares of Biogen in the 4th quarter worth approximately $123,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Biogen by 77.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 174 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Biogen in the 4th quarter worth approximately $133,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Biogen in the 4th quarter worth approximately $149,000. 88.92% of the stock is currently owned by institutional investors.
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Biogen Company Profile
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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