Jefferies Group LLC restated their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research report report published on Tuesday, July 11th, MarketBeat reports. Jefferies Group LLC currently has a $310.00 price target on the biotechnology company’s stock. Jefferies Group also issued estimates for Biogen’s Q2 2017 earnings at $3.92 EPS, Q3 2017 earnings at $4.91 EPS, Q4 2017 earnings at $5.36 EPS, FY2017 earnings at $19.39 EPS and FY2018 earnings at $21.69 EPS.
A number of other brokerages have also issued reports on BIIB. Leerink Swann lowered Biogen from an outperform rating to a market perform rating and set a $300.00 target price on the stock. in a research report on Thursday, March 16th. Morgan Stanley downgraded Biogen from an overweight rating to an equal weight rating and reduced their price objective for the company from $369.00 to $305.00 in a research note on Thursday, March 16th. Vetr downgraded Biogen from a strong-buy rating to a buy rating and set a $310.46 price objective for the company. in a research note on Tuesday, April 25th. Stifel Nicolaus increased their price objective on Biogen from $265.00 to $280.00 and gave the company a hold rating in a research note on Wednesday, April 26th. Finally, Deutsche Bank AG initiated coverage on Biogen in a research note on Friday, June 23rd. They issued a buy rating and a $315.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Biogen currently has an average rating of Buy and an average target price of $329.74.
Biogen (NASDAQ BIIB) traded up 0.90% during midday trading on Tuesday, reaching $283.68. 720,371 shares of the company’s stock were exchanged. The firm has a market capitalization of $59.98 billion, a price-to-earnings ratio of 18.62 and a beta of 0.79. The firm’s 50 day moving average is $281.40 and its 200 day moving average is $273.93. Biogen has a 52 week low of $244.28 and a 52 week high of $329.83.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm posted $5.21 EPS. The business’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that Biogen will post $21.44 earnings per share for the current year.
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In other news, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now owns 6,330 shares in the company, valued at approximately $1,622,442.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock valued at $3,931,380 over the last 90 days. 0.32% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Sarissa Capital Management LP bought a new position in shares of Biogen during the fourth quarter valued at about $87,909,000. Berkshire Asset Management LLC PA boosted its position in shares of Biogen by 9.4% in the first quarter. Berkshire Asset Management LLC PA now owns 2,197 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 189 shares during the last quarter. Wrapmanager Inc. boosted its position in shares of Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock valued at $1,511,000 after buying an additional 396 shares during the last quarter. Savant Capital LLC boosted its position in shares of Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Biogen during the fourth quarter valued at about $603,929,000. Institutional investors and hedge funds own 88.70% 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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