Biogen Inc. (NASDAQ:BIIB) was upgraded by Mizuho from a “neutral” rating to a “buy” rating in a report issued on Tuesday, October 17th, MarketBeat reports. The firm presently has a $400.00 price target on the biotechnology company’s stock, up from their prior price target of $319.00. Mizuho’s price objective would suggest a potential upside of 30.02% from the stock’s current price.
BIIB has been the topic of a number of other research reports. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target on the stock in a report on Tuesday, June 27th. Deutsche Bank AG started coverage on shares of Biogen in a report on Friday, June 23rd. They issued a “buy” rating and a $315.00 price target on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $300.00 price target on shares of Biogen in a report on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and issued a $290.00 price target on shares of Biogen in a report on Friday, August 25th. Finally, Credit Suisse Group set a $300.00 price target on shares of Biogen and gave the stock a “hold” rating in a report on Friday, July 14th. Eleven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $341.30.
Shares of Biogen (NASDAQ BIIB) opened at 307.64 on Tuesday. The firm has a 50-day moving average of $324.58 and a 200-day moving average of $286.98. The firm has a market cap of $65.04 billion, a price-to-earnings ratio of 20.19 and a beta of 0.77. Biogen has a 12 month low of $244.28 and a 12 month high of $348.84.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. Biogen’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.19 EPS. On average, analysts anticipate that Biogen will post $22.11 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Pathstone Family Office LLC purchased a new position in Biogen during the 1st quarter valued at about $102,000. Prentiss Smith & Co. Inc. lifted its position in Biogen by 14.9% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 50 shares during the period. Atlantic Trust LLC purchased a new position in Biogen during the 2nd quarter valued at about $114,000. Independent Portfolio Consultants Inc. lifted its position in Biogen by 93.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 219 shares during the period. Finally, Winfield Associates Inc. lifted its position in Biogen by 16.8% during the 1st quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after acquiring an additional 67 shares during the period. 87.47% of the stock is owned by institutional investors.
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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