Barclays PLC reiterated their overweight rating on shares of Biogen Inc (NASDAQ:BIIB) in a research report released on Sunday, April 23rd. They currently have a $360.00 target price on the biotechnology company’s stock, down from their previous target price of $380.00.
Several other research analysts have also recently issued reports on the stock. Mizuho reissued a hold rating and set a $290.00 target price on shares of Biogen in a report on Tuesday, April 18th. Robert W. Baird reissued a neutral rating and set a $290.00 target price on shares of Biogen in a report on Tuesday, April 18th. Leerink Swann reduced their target price on shares of Biogen from $300.00 to $290.00 and set a market perform rating for the company in a report on Monday, April 10th. Jefferies Group LLC set a $289.00 target price on shares of Biogen and gave the stock a hold rating in a report on Tuesday, April 4th. Finally, Citigroup Inc lifted their price objective on shares of Biogen from $305.00 to $315.00 and gave the company a buy rating in a report on Tuesday, April 4th. Eleven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $331.68.
Shares of Biogen (NASDAQ:BIIB) traded down 0.02% during midday trading on Friday, hitting $250.04. 1,331,175 shares of the stock were exchanged. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65. The stock has a market cap of $53.04 billion, a price-to-earnings ratio of 15.66 and a beta of 0.72. The firm’s 50-day moving average is $266.95 and its 200-day moving average is $283.02.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.23. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the company posted $4.79 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts predict that Biogen will post $20.48 earnings per share for the current year.
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In other Biogen news, CEO Michel Vounatsos bought 1,333 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were purchased at an average cost of $285.39 per share, with a total value of $380,424.87. The acquisition 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 company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $274.08, for a total transaction of $542,952.48. Following the sale, the chief marketing officer now directly owns 7,060 shares in the company, valued at $1,935,004.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 76,593 shares of company stock worth $21,330,311 and have sold 21,764 shares worth $6,295,354. 0.32% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Guardian Trust Co. boosted its position in Biogen by 130.1% in the fourth quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 203 shares during the period. Pathstone Family Office LLC purchased a new position in Biogen during the first quarter valued at approximately $102,000. Crestwood Advisors Group LLC purchased a new position in Biogen during the first quarter valued at approximately $106,000. Harvest Fund Management Co. Ltd purchased a new position in Biogen during the fourth quarter valued at approximately $110,000. Finally, Thompson Siegel & Walmsley LLC boosted its position in Biogen by 3.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 408 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 12 shares during the period. Institutional investors own 86.97% of the company’s stock.
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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