Vetr upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a research note released on Thursday. Vetr currently has $319.53 price objective on the biotechnology company’s stock.
BIIB has been the subject of several other research reports. UBS AG reaffirmed a neutral rating and issued a $285.00 price target (up previously from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Sanford C. Bernstein reiterated an outperform rating on shares of Biogen in a research report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) upgraded Biogen from a buy rating to a conviction-buy rating and set a $338.00 price objective for the company in a research report on Wednesday. Deutsche Bank AG reiterated a buy rating and issued a $319.00 price objective (up from $315.00) on shares of Biogen in a research report on Wednesday, July 26th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $307.00 price objective on shares of Biogen in a research report on Wednesday, June 14th. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $328.81.
Biogen (NASDAQ:BIIB) traded down 0.515% during trading on Thursday, reaching $282.955. The company’s stock had a trading volume of 509,328 shares. The stock has a 50-day moving average of $282.82 and a 200 day moving average of $274.33. Biogen has a one year low of $244.28 and a one year high of $304.24. The firm has a market capitalization of $59.83 billion, a P/E ratio of 18.568 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the firm earned $5.21 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Biogen will post $21.44 EPS for the current fiscal year.
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In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Pathstone Family Office LLC acquired a new stake in Biogen during the first quarter worth $102,000. Prentiss Smith & Co. Inc. boosted its stake in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Crestwood Advisors Group LLC acquired a new stake in Biogen during the first quarter worth $106,000. Independent Portfolio Consultants Inc. boosted its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares in the last quarter. Finally, Winfield Associates Inc. boosted its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.
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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