Biogen (NASDAQ:BIIB) has been assigned a $384.00 price objective by investment analysts at Credit Suisse Group in a research report issued on Tuesday. The firm currently has a “buy” rating on the biotechnology company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 46.48% from the company’s current price.
BIIB has been the topic of a number of other research reports. Nomura raised their target price on Biogen from $355.00 to $420.00 and gave the stock a “buy” rating in a report on Saturday, December 30th. William Blair restated a “buy” rating on shares of Biogen in a report on Thursday, February 15th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. SunTrust Banks lifted their price objective on Biogen to $392.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, Oppenheimer lifted their price objective on Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $362.07.
Shares of BIIB opened at $262.15 on Tuesday. 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 1 year low of $244.28 and a 1 year high of $370.57. The stock has a market cap of $54,858.21, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.47 and a beta of 0.86.
In other Biogen 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 sale, the executive vice president now owns 6,553 shares in the company, valued at approximately $1,905,808.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,296 shares of company stock worth $678,993 in the last 90 days. Company insiders own 0.25% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in shares of Biogen during the 4th quarter worth approximately $113,000. Prentiss Smith & Co. Inc. acquired a new position in shares of Biogen during the 4th quarter worth approximately $123,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Biogen by 77.0% during 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 last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Biogen during the 4th quarter worth approximately $133,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Biogen during the 4th quarter worth approximately $149,000. Hedge funds and other institutional investors own 88.94% of the company’s stock.
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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