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

Biogen Inc (NASDAQ:BIIB) has earned an average rating of “Buy” from the thirty-one ratings firms that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $383.37.

Several brokerages recently commented on BIIB. ValuEngine lowered shares of Biogen from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Raymond James reaffirmed a “buy” rating on shares of Biogen in a research report on Wednesday, October 3rd. Stifel Nicolaus began coverage on shares of Biogen in a research report on Tuesday, August 7th. They issued a “buy” rating and a $394.00 price objective for the company. Finally, Sanford C. Bernstein lowered shares of Biogen from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $373.00 to $341.00 in a research report on Friday, October 19th.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Unigestion Holding SA acquired a new stake in shares of Biogen in the second quarter valued at approximately $862,000. Kaizen Advisory LLC raised its position in shares of Biogen by 145.8% in the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 296 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Biogen by 141.5% in the second quarter. Eqis Capital Management Inc. now owns 14,660 shares of the biotechnology company’s stock valued at $4,255,000 after buying an additional 8,590 shares in the last quarter. First Quadrant L P CA raised its position in shares of Biogen by 111.4% in the second quarter. First Quadrant L P CA now owns 149,533 shares of the biotechnology company’s stock valued at $43,400,000 after buying an additional 78,799 shares in the last quarter. Finally, Community Financial Services Group LLC acquired a new stake in shares of Biogen in the second quarter valued at approximately $206,000. 87.16% of the stock is owned by institutional investors.

Shares of NASDAQ:BIIB traded down $1.53 during trading on Monday, reaching $332.19. The stock had a trading volume of 1,093,683 shares, compared to its average volume of 1,590,400. Biogen has a one year low of $249.17 and a one year high of $388.67. The stock has a market capitalization of $67.24 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.29 and a beta of 0.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.78 by $0.62. Biogen had a net margin of 24.08% and a return on equity of 38.70%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the business earned $6.31 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Biogen will post 25.82 EPS for the current year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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