HC Wainwright reiterated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Friday morning, AnalystRatings.com reports. HC Wainwright currently has a $335.00 price objective on the biotechnology company’s stock.
A number of other equities analysts also recently issued reports on the stock. Morgan Stanley increased their price target on shares of Biogen from $212.00 to $262.00 and gave the company an underweight rating in a report on Wednesday, October 23rd. Jefferies Financial Group upped their target price on shares of Biogen from $255.00 to $310.00 and gave the stock a hold rating in a research report on Tuesday, October 22nd. Standpoint Research cut shares of Biogen from a buy rating to a hold rating in a report on Friday, November 1st. Oppenheimer set a $280.00 target price on shares of Biogen and gave the company a buy rating in a report on Tuesday, October 15th. Finally, ValuEngine upgraded shares of Biogen from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $289.69.
BIIB stock traded up $0.87 on Friday, reaching $300.26. 2,240,477 shares of the company’s stock were exchanged, compared to its average volume of 1,931,521. The stock has a fifty day moving average of $285.65 and a 200-day moving average of $244.76. The firm has a market cap of $54.18 billion, a PE ratio of 11.46, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.35. Biogen has a twelve month low of $215.77 and a twelve month high of $344.00.
In related news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $292.35, for a total transaction of $308,429.25. Following the completion of the sale, the director now owns 6,995 shares in the company, valued at approximately $2,044,988.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.39% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Bourgeon Capital Management LLC acquired a new position in shares of Biogen in the third quarter valued at approximately $30,000. Ruggie Capital Group purchased a new position in shares of Biogen during the second quarter valued at approximately $33,000. Resources Management Corp CT ADV purchased a new position in shares of Biogen during the third quarter valued at approximately $34,000. Next Capital Management LLC lifted its stake in shares of Biogen by 101.3% during the second quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 76 shares during the period. Finally, Sandy Spring Bank boosted its position in Biogen by 43.5% during the third quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 50 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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