Biogen (NASDAQ:BIIB) Lifted to Buy at StockNews.com

Biogen (NASDAQ:BIIBGet Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

BIIB has been the topic of several other reports. Oppenheimer restated an “outperform” rating and issued a $295.00 price objective on shares of Biogen in a research report on Tuesday, January 30th. Stifel Nicolaus cut their target price on Biogen from $315.00 to $287.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Wedbush increased their target price on Biogen from $239.00 to $245.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company increased their target price on Biogen from $343.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $317.52.

Read Our Latest Research Report on Biogen

Biogen Price Performance

Shares of BIIB traded up $3.76 during trading hours on Monday, reaching $244.74. 960,746 shares of the stock traded hands, compared to its average volume of 943,930. The company has a market cap of $35.46 billion and a P/E ratio of 24.33. The company has a current ratio of 1.68, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $249.84 and its two-hundred day moving average price is $252.31. Biogen has a 52-week low of $220.86 and a 52-week high of $319.76.

Insider Buying and Selling

In related news, insider Priya Singhal sold 110 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $248.00, for a total value of $27,280.00. Following the sale, the insider now directly owns 3,464 shares of the company’s stock, valued at approximately $859,072. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Biogen

Large investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. boosted its position in Biogen by 16.4% in the first quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock valued at $693,000 after buying an additional 464 shares during the last quarter. Cibc World Market Inc. boosted its position in Biogen by 39.9% in the first quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock valued at $3,210,000 after buying an additional 4,349 shares during the last quarter. Vanguard Group Inc. boosted its position in Biogen by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after buying an additional 183,285 shares during the last quarter. Baird Financial Group Inc. boosted its position in Biogen by 15.3% in the first quarter. Baird Financial Group Inc. now owns 89,722 shares of the biotechnology company’s stock valued at $18,896,000 after buying an additional 11,882 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Biogen by 10.7% during the first quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock valued at $1,251,000 after acquiring an additional 573 shares in the last quarter. 85.99% of the stock is owned by hedge funds and other institutional investors.

About Biogen

(Get Free Report)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.

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