Vetr upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a hold rating to a buy rating in a research report report published on Thursday morning. The firm currently has $346.83 target price on the biotechnology company’s stock.
A number of other research firms have also commented on BIIB. ValuEngine lowered Biogen from a buy rating to a hold rating in a report on Friday, September 1st. BMO Capital Markets reissued a market perform rating and set a $328.00 price objective (up previously from $317.00) on shares of Biogen in a research note on Wednesday, July 26th. Cowen and Company reissued a buy rating on shares of Biogen in a research note on Thursday, July 27th. BidaskClub raised Biogen from a hold rating to a buy rating in a research note on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) raised Biogen from a buy rating to a conviction-buy rating and set a $338.00 price objective for the company in a research note on Wednesday, August 16th. Twelve analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $329.95.
Shares of Biogen (NASDAQ BIIB) opened at 326.33 on Thursday. The company has a market capitalization of $69.00 billion, a P/E ratio of 21.41 and a beta of 0.77. The stock’s 50 day moving average price is $293.33 and its 200-day moving average price is $276.98. Biogen has a 52-week low of $244.28 and a 52-week high of $329.84.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $5.21 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts expect that Biogen will post $21.44 earnings per share for the current year.
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In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Several large investors have recently bought and sold shares of BIIB. Pathstone Family Office LLC bought a new position in Biogen in the 1st quarter worth $102,000. Prentiss Smith & Co. Inc. boosted its holdings in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the period. Atlantic Trust LLC bought a new position in Biogen in the 2nd quarter worth $114,000. Independent Portfolio Consultants Inc. boosted its holdings in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. boosted its holdings in Biogen by 16.8% in the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 87.26% of the company’s stock.
Biogen Company Profile
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).
To view Vetr’s full report, visit Vetr’s official website.
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