Biogen Inc (BIIB) Receives Consensus Rating of “Buy” from Brokerages

Shares of Biogen Inc (NASDAQ:BIIB) have received a consensus rating of “Buy” from the thirty-three analysts that are presently covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $344.57.

BIIB has been the subject of a number of analyst reports. Vetr lowered Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target for the company. in a research report on Tuesday, August 29th. ValuEngine lowered Biogen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. SunTrust Banks reiterated a “buy” rating and set a $354.00 price target on shares of Biogen in a research report on Tuesday, October 24th. Canaccord Genuity initiated coverage on Biogen in a research report on Friday, October 27th. They set a “hold” rating and a $340.00 price target for the company. Finally, BMO Capital Markets upgraded Biogen from a “market perform” rating to an “outperform” rating and set a $377.00 price target for the company in a research report on Wednesday, October 25th.

Shares of Biogen (BIIB) traded up $6.20 during mid-day trading on Monday, reaching $325.77. The company’s stock had a trading volume of 1,133,900 shares, compared to its average volume of 1,480,683. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. Biogen has a one year low of $244.28 and a one year high of $348.84. The firm has a market cap of $68,892.83, a price-to-earnings ratio of 15.09, a PEG ratio of 2.03 and a beta of 0.73.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm posted $5.19 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. analysts predict that Biogen will post 22.03 EPS for the current year.

In other news, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the acquisition, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Atlantic Trust LLC acquired a new stake in shares of Biogen during the second quarter worth $114,000. Horan Capital Advisors LLC. acquired a new position in Biogen during the third quarter valued at $128,000. Massey Quick Simon & CO. LLC raised its position in Biogen by 84.8% during the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 195 shares during the period. Gs Investments Inc. acquired a new position in Biogen during the second quarter valued at $136,000. Finally, Thompson Siegel & Walmsley LLC raised its position in Biogen by 33.3% during the second quarter. Thompson Siegel & Walmsley LLC now owns 528 shares of the biotechnology company’s stock valued at $143,000 after buying an additional 132 shares during the period. 88.30% of the stock is currently owned by institutional investors.

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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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