Mizuho restated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research report report published on Sunday, February 4th, Marketbeat reports. They currently have a $433.00 target price on the biotechnology company’s stock, up from their prior target price of $400.00.
A number of other brokerages have also commented on BIIB. Deutsche Bank restated a buy rating and set a $373.00 price objective on shares of Biogen in a research report on Friday, January 26th. Oppenheimer lifted their price target on Biogen from $380.00 to $400.00 and gave the company a buy rating in a report on Friday, January 26th. Jefferies Group reiterated a hold rating on shares of Biogen in a report on Friday, January 26th. BMO Capital Markets reiterated a buy rating on shares of Biogen in a report on Thursday, January 25th. Finally, Cowen reiterated a buy rating and set a $408.00 price target on shares of Biogen in a report on Friday, January 26th. Eight research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Biogen currently has a consensus rating of Buy and a consensus price target of $368.99.
Biogen (NASDAQ BIIB) opened at $316.99 on Friday. The firm has a market capitalization of $67,040.00, a PE ratio of 26.62, a P/E/G ratio of 1.65 and a beta of 0.75. Biogen has a 12 month low of $244.28 and a 12 month high of $370.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 2.07.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.04 EPS. analysts expect that Biogen will post 24.88 earnings per share for the current fiscal year.
In other Biogen news, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now owns 23,539 shares of the company’s stock, valued at $7,759,631.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander J. Denner purchased 30,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The disclosure for this purchase can be found here. In the last three months, insiders acquired 31,560 shares of company stock worth $10,020,858. Insiders own 0.25% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Prentiss Smith & Co. Inc. acquired a new position in shares of Biogen during the fourth quarter valued at $123,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Biogen by 77.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after acquiring an additional 174 shares during the period. Horan Capital Advisors LLC. acquired a new position in shares of Biogen during the third quarter valued at $128,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Biogen during the fourth quarter valued at $133,000. Finally, Atlantic Trust LLC acquired a new position in shares of Biogen during the second quarter valued at $114,000. 87.79% of the stock is currently owned by institutional investors and hedge funds.
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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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