Biogen (NASDAQ:BIIB – Get Rating) had its target price boosted by equities research analysts at Jefferies Financial Group from $325.00 to $350.00 in a research note issued to investors on Wednesday, The Fly reports. Jefferies Financial Group’s target price points to a potential upside of 20.11% from the company’s current price.
A number of other equities analysts have also weighed in on the company. HC Wainwright upped their target price on Biogen from $240.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 26th. Morgan Stanley raised their price objective on shares of Biogen from $321.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, October 26th. Barclays boosted their target price on Biogen from $275.00 to $313.00 in a research note on Wednesday. Cowen increased their price target on Biogen from $270.00 to $300.00 in a research report on Wednesday, October 26th. Finally, SVB Leerink increased their price target on shares of Biogen from $270.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, October 26th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and an average target price of $303.07.
Biogen Trading Down 0.2 %
NASDAQ:BIIB opened at $291.41 on Wednesday. Biogen has a 12 month low of $187.16 and a 12 month high of $307.53. The company has a current ratio of 2.49, a quick ratio of 2.14 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $41.96 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.71 and a beta of 0.19. The firm has a fifty day simple moving average of $271.60 and a two-hundred day simple moving average of $229.82.
Biogen (NASDAQ:BIIB – Get Rating) last issued its earnings results on Tuesday, October 25th. The biotechnology company reported $4.77 EPS for the quarter, beating the consensus estimate of $4.13 by $0.64. Biogen had a return on equity of 21.31% and a net margin of 27.64%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the business posted $4.77 EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Analysts expect that Biogen will post 17.03 EPS for the current fiscal year.
Insider Transactions at Biogen
In other news, EVP Susan H. Alexander sold 5,532 shares of Biogen stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $280.70, for a total transaction of $1,552,832.40. Following the completion of the sale, the executive vice president now directly owns 39,396 shares of the company’s stock, valued at approximately $11,058,457.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.
Institutional Trading of Biogen
A number of hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in shares of Biogen by 0.5% during the first quarter. Primecap Management Co. CA now owns 15,834,606 shares of the biotechnology company’s stock worth $3,334,768,000 after acquiring an additional 77,201 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Biogen by 2.8% in the first quarter. BlackRock Inc. now owns 14,121,097 shares of the biotechnology company’s stock worth $2,973,904,000 after buying an additional 384,143 shares during the period. Vanguard Group Inc. lifted its stake in shares of Biogen by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 11,914,973 shares of the biotechnology company’s stock valued at $3,181,298,000 after acquiring an additional 54,951 shares during the last quarter. State Street Corp boosted its holdings in Biogen by 2.8% during the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after acquiring an additional 197,400 shares during the period. Finally, Wellington Management Group LLP grew its position in Biogen by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 6,249,526 shares of the biotechnology company’s stock worth $1,316,151,000 after acquiring an additional 65,071 shares during the last quarter. Institutional investors own 83.45% of the company’s stock.
About Biogen
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis, SPINRAZA for the treatment of spinal muscular atrophy, and FUMADERM for the treatment of severe plaque psoriasis.
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Read More: Biogen (NASDAQ:BIIB) Price Target Raised to $350.00 at Jefferies Financial Group