Biogen Inc. (NASDAQ:BIIB)‘s stock had its “hold” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Friday.
The analysts wrote, “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.””
Several other research analysts have also recently issued reports on the stock. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $343.10 target price for the company in a report on Thursday, September 29th. J P Morgan Chase & Co reiterated a “buy” rating and issued a $386.00 target price on shares of Biogen in a report on Friday, September 16th. Raymond James Financial, Inc. boosted their price target on shares of Biogen from $375.00 to $386.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 29th. Robert W. Baird reissued a “neutral” rating and issued a $284.00 price target on shares of Biogen in a research note on Saturday, November 26th. Finally, HC Wainwright set a $360.00 price target on shares of Biogen and gave the company a “buy” rating in a research note on Monday, December 12th. Twelve research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen presently has a consensus rating of “Buy” and an average target price of $336.67.
Shares of Biogen (NASDAQ:BIIB) opened at 299.02 on Friday. The company has a market capitalization of $65.06 billion, a PE ratio of 16.91 and a beta of 0.74. Biogen has a 12 month low of $223.02 and a 12 month 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 released its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.22. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the firm earned $4.48 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts forecast that Biogen will post $20.20 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. boosted its position in shares of Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock worth $130,000 after buying an additional 39 shares during the period. Winfield Associates Inc. boosted its position in shares of Biogen by 10.0% in the third quarter. Winfield Associates Inc. now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 40 shares during the period. Balentine LLC boosted its position in shares of Biogen by 685.7% in the third quarter. Balentine LLC now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 384 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Biogen by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 470 shares of the biotechnology company’s stock worth $136,000 after buying an additional 34 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of Biogen during the third quarter worth $184,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
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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