Other analysts have also recently issued research reports about the stock. SunTrust Banks initiated coverage on shares of Biogen in a report on Wednesday, September 20th. They issued a buy rating and a $360.00 target price on the stock. Vetr lowered shares of Biogen from a strong-buy rating to a buy rating and set a $319.53 price target on the stock. in a research note on Tuesday, August 29th. Stifel Nicolaus upgraded shares of Biogen from a hold rating to a buy rating and increased their price target for the company from $300.00 to $415.00 in a research note on Tuesday, October 17th. Mizuho upgraded shares of Biogen from a neutral rating to a buy rating and increased their price target for the company from $319.00 to $400.00 in a research note on Tuesday, October 17th. Finally, Morgan Stanley reiterated a buy rating on shares of Biogen in a research note on Tuesday, October 17th. Twelve analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average price target of $344.60.
Shares of Biogen (NASDAQ BIIB) traded up $1.96 during trading hours on Monday, reaching $319.36. 430,916 shares of the company traded hands, compared to its average volume of 1,489,042. The firm has a market capitalization of $67,810.00, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.99 and a beta of 0.73. Biogen has a 52-week low of $244.28 and a 52-week high of $348.84. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46.
In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares in the company, valued at approximately $3,182,803.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BIIB. Laurel Wealth Advisors Inc. grew its position in Biogen by 15.6% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 1,080 shares of the biotechnology company’s stock valued at $295,000 after buying an additional 146 shares during the last quarter. TrueNorth Inc. purchased a new position in Biogen in the 1st quarter valued at $1,209,000. Clearbridge Investments LLC grew its position in Biogen by 4.0% in the 1st quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after buying an additional 351,224 shares during the last quarter. Parsons Capital Management Inc. RI grew its position in Biogen by 68.5% in the 1st quarter. Parsons Capital Management Inc. RI now owns 1,463 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 595 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. grew its position in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the last quarter. Institutional investors and hedge funds own 88.30% 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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