“Date and time of first dissemination: January 06, 2017, 09:14 ET Date and time of production: January 06, 2017, 09:14 ET Target Price / Valuation Methodology: Regeneron Pharmaceuticals – REGN Our $450 price target for Regeneron shares is based on a discounted cash flow (DCF) valuation. Risks to achieving Target Price / Valuation: Regeneron Pharmaceuticals – REGN Regeneron’s revenues and/or EPS may fall below our estimates, resulting in downside to our target price. Specifically, US Eylea revenues from diabetic macular edema may be lower than expected due to competition from laser procedures, and a very short dosing period for Eylea.”,” the firm’s analyst commented.
A number of other analysts have also weighed in on BIIB. HC Wainwright restated a buy rating and issued a $360.00 target price on shares of Biogen in a research note on Thursday, September 8th. Vetr upgraded Biogen from a buy rating to a strong-buy rating and set a $346.47 price objective for the company in a research report on Monday, September 12th. Stifel Nicolaus reiterated a hold rating on shares of Biogen in a research report on Friday, September 16th. J P Morgan Chase & Co reiterated a buy rating and issued a $386.00 price objective on shares of Biogen in a research report on Friday, September 16th. Finally, Credit Suisse Group set a $322.00 price objective on Biogen and gave the stock a hold rating in a research report on Sunday, September 18th. Twelve research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $336.67.
Biogen (NASDAQ:BIIB) traded down 3.30% during mid-day trading on Friday, reaching $287.97. 886,128 shares of the company’s stock were exchanged. The stock has a market cap of $62.65 billion, a P/E ratio of 16.29 and a beta of 0.74. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The stock has a 50-day moving average price of $293.30 and a 200-day moving average price of $292.61.
Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.22. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The company earned $2.96 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the company posted $4.48 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Biogen will post $20.20 earnings per share for the current year.
In other Biogen news, Director Robert W. Pangia sold 5,450 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $295.39, for a total value of $1,609,875.50. Following the completion of the sale, the director now directly owns 22,078 shares of the company’s stock, valued at $6,521,620.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in BIIB. Girard Partners LTD. bought a new position in shares of Biogen during the third quarter valued at $289,000. JNBA Financial Advisors boosted its position in shares of Biogen by 39.9% in the second quarter. JNBA Financial Advisors now owns 1,421 shares of the biotechnology company’s stock valued at $344,000 after buying an additional 405 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Biogen by 10.6% in the second quarter. Meeder Asset Management Inc. now owns 6,433 shares of the biotechnology company’s stock valued at $1,556,000 after buying an additional 619 shares during the period. Parkwood LLC bought a new position in shares of Biogen during the second quarter valued at $3,251,000. Finally, SeaBridge Investment Advisors LLC boosted its position in shares of Biogen by 0.7% in the second quarter. SeaBridge Investment Advisors LLC now owns 21,535 shares of the biotechnology company’s stock valued at $5,208,000 after buying an additional 150 shares during the period. Institutional investors own 86.37% of the company’s stock.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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