Several other research firms have also recently issued reports on BIIB. Canaccord Genuity reiterated a hold rating and issued a $350.00 price objective on shares of Biogen in a research report on Wednesday. UBS Group upgraded Biogen from a neutral rating to a buy rating and raised their price target for the company from $352.59 to $410.00 in a research report on Wednesday, January 31st. Oppenheimer raised their price target on Biogen from $380.00 to $400.00 and gave the company a buy rating in a research report on Friday, January 26th. Mizuho restated a buy rating and issued a $433.00 price target (up previously from $400.00) on shares of Biogen in a research report on Sunday, February 4th. Finally, Jefferies Group restated a hold rating on shares of Biogen in a research report on Friday, January 26th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $368.99.
Shares of Biogen (NASDAQ BIIB) traded down $6.82 during midday trading on Thursday, hitting $304.97. The company had a trading volume of 1,060,000 shares, compared to its average volume of 1,270,000. 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 52-week low of $244.28 and a 52-week high of $370.57. The firm has a market capitalization of $64,490.00, a P/E ratio of 25.61, a PEG ratio of 1.70 and a beta of 0.75.
In other news, Director Alexander J. Denner acquired 30,000 shares of Biogen stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michel Vounatsos acquired 780 shares of Biogen stock in a transaction dated Friday, December 29th. The stock was purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. Following the completion of the purchase, the chief executive officer now directly owns 4,879 shares in the company, valued at $1,563,963.45. The disclosure for this purchase can be found here. Insiders bought a total of 31,560 shares of company stock worth $10,020,858 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.
Several large investors have recently made changes to their positions in BIIB. Caxton Associates LP raised its holdings in shares of Biogen by 25.0% during the 2nd quarter. Caxton Associates LP now owns 1,500 shares of the biotechnology company’s stock valued at $407,000 after buying an additional 300 shares during the period. Linscomb & Williams Inc. raised its holdings in shares of Biogen by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock valued at $327,000 after buying an additional 29 shares during the period. Cypress Capital Group purchased a new stake in shares of Biogen during the 2nd quarter valued at about $209,000. Intellectus Partners LLC raised its holdings in shares of Biogen by 13.4% during the 2nd quarter. Intellectus Partners LLC now owns 1,409 shares of the biotechnology company’s stock valued at $382,000 after buying an additional 167 shares during the period. Finally, BB&T Investment Services Inc. purchased a new stake in Biogen during the 2nd quarter worth approximately $237,000. Institutional investors and hedge funds own 88.11% of the company’s stock.
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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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