Biogen Inc. (NASDAQ:BIIB) has earned a consensus recommendation of “Buy” from the thirty-three research firms that are covering the firm, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $344.25.
A number of analysts have recently weighed in on the stock. Mizuho set a $400.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Monday, November 13th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price objective for the company in a report on Thursday, August 10th. Cowen and Company restated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. assumed coverage on shares of Biogen in a report on Thursday, November 9th. They issued an “outperform” rating and a $350.00 price objective for the company. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a report on Wednesday, August 16th.
Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new position in Biogen during the 3rd quarter valued at about $123,494,000. Botty Investors LLC grew its holdings in Biogen by 75.0% during the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after purchasing an additional 4,812 shares during the last quarter. BB&T Securities LLC grew its holdings in Biogen by 25.0% during the 2nd quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after purchasing an additional 2,598 shares during the last quarter. Vanguard Group Inc. grew its holdings in Biogen by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after purchasing an additional 342,568 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Biogen by 18.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 27,974 shares of the biotechnology company’s stock worth $7,591,000 after acquiring an additional 4,389 shares in the last quarter. Institutional investors own 88.28% of the company’s stock.
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Shares of Biogen (BIIB) traded down $0.40 during trading hours on Thursday, hitting $309.06. The stock had a trading volume of 1,281,519 shares, compared to its average volume of 1,504,809. Biogen has a 52-week low of $244.28 and a 52-week high of $348.84. The company has a market capitalization of $65,360.00, a PE ratio of 14.54, a P/E/G ratio of 1.96 and a beta of 0.72. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $5.19 earnings per share. research analysts expect that Biogen will post 22.03 EPS for the current fiscal year.
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).
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