Biogen Inc. (NASDAQ:BIIB) Receives “Buy” Rating from Morgan Stanley

Biogen Inc. (NASDAQ:BIIB)‘s stock had its “buy” rating restated by analysts at Morgan Stanley in a research note issued on Tuesday, October 17th.

Several other research firms also recently commented on BIIB. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target on the stock. in a research note on Tuesday, August 29th. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Cowen and Company restated an “outperform” rating and issued a $271.00 price target on shares of Biogen in a research note on Monday, July 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $315.00 price target on shares of Biogen in a research note on Thursday, October 5th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, June 26th. Twelve research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $341.25.

Shares of Biogen (NASDAQ BIIB) traded up 0.03% on Tuesday, reaching $307.74. The company’s stock had a trading volume of 1,679,757 shares. Biogen has a 1-year low of $244.28 and a 1-year high of $348.84. The stock has a 50-day moving average of $324.58 and a 200 day moving average of $286.98. The stock has a market capitalization of $65.07 billion, a PE ratio of 20.19 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company earned $5.19 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Biogen will post $22.10 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in Biogen in the 3rd quarter valued at $123,494,000. Botty Investors LLC grew its position in Biogen by 75.0% in the 2nd quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after purchasing an additional 4,812 shares during the period. Savant Capital LLC grew its position in Biogen by 3.7% in the 1st quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after purchasing an additional 30 shares during the period. BB&T Securities LLC grew its position in Biogen by 25.0% in the 2nd quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after purchasing an additional 2,598 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Biogen by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after acquiring an additional 342,568 shares in the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

About Biogen

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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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