Leerink Swann set a $300.00 target price on Biogen Inc (NASDAQ:BIIB) in a research report report published on Monday morning. The firm currently has a hold rating on the biotechnology company’s stock.
Other research analysts have also issued reports about the stock. TheStreet raised shares of Biogen from a c+ rating to a b- rating in a research note on Tuesday, February 21st. Piper Jaffray Companies set a $335.00 target price on shares of Biogen and gave the company a buy rating in a research note on Friday, December 9th. HC Wainwright set a $360.00 target price on shares of Biogen and gave the company a buy rating in a research note on Monday, December 12th. Cowen and Company reissued a buy rating and set a $368.00 target price on shares of Biogen in a research note on Friday, December 30th. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Biogen in a research note on Wednesday, January 18th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $326.64.
Biogen (NASDAQ:BIIB) traded up 0.18% during mid-day trading on Monday, hitting $272.94. 1,127,569 shares of the stock traded hands. The stock has a market cap of $58.94 billion, a price-to-earnings ratio of 16.12 and a beta of 0.72. Biogen has a 1-year low of $223.02 and a 1-year high of $333.65. The company’s 50 day moving average price is $278.13 and its 200-day moving average price is $287.62.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, January 26th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the consensus estimate of $4.96 by $0.08. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business posted $4.50 earnings per share. Biogen’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts predict that Biogen will post $20.97 earnings per share for the current year.
In related news, VP Paul J. Clancy sold 9,891 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $291.55, for a total value of $2,883,721.05. Following the completion of the transaction, the vice president now directly owns 20,705 shares of the company’s stock, valued at approximately $6,036,542.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Alfred Sandrock sold 1,981 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $274.08, for a total value of $542,952.48. Following the completion of the transaction, the chief marketing officer now directly owns 7,060 shares of the company’s stock, valued at $1,935,004.80. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jag Capital Management LLC bought a new stake in shares of Biogen during the third quarter worth about $6,193,000. North American Management Corp bought a new stake in shares of Biogen during the third quarter worth about $230,000. Cape ANN Savings Bank bought a new stake in shares of Biogen during the third quarter worth about $246,000. Acadian Asset Management LLC increased its stake in shares of Biogen by 112.7% in the third quarter. Acadian Asset Management LLC now owns 9,157 shares of the biotechnology company’s stock worth $2,866,000 after buying an additional 4,852 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Biogen by 4.7% in the third quarter. Bank of Montreal Can now owns 115,666 shares of the biotechnology company’s stock worth $36,207,000 after buying an additional 5,206 shares during the period. 86.97% of the stock is owned by hedge funds and other institutional investors.
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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