Biogen (BIIB) PT Set at $384.00 by Credit Suisse Group

Biogen (NASDAQ:BIIB) received a $384.00 price target from investment analysts at Credit Suisse Group in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 43.27% from the company’s previous close.

BIIB has been the subject of a number of other reports. Nomura increased their price target on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. William Blair reissued a “buy” rating on shares of Biogen in a research note on Thursday, February 15th. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. SunTrust Banks increased their price target on Biogen to $392.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Oppenheimer raised their price objective on Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $366.49.

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Shares of Biogen stock opened at $268.03 on Tuesday. Biogen has a 12 month low of $244.28 and a 12 month high of $370.57. The company has a market cap of $55,664.26, a P/E ratio of 12.29, a PEG ratio of 1.45 and a beta of 0.86. 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 announced its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company posted $5.04 earnings per share. Biogen’s quarterly revenue was up 15.1% on a year-over-year basis. research analysts predict that Biogen will post 24.78 earnings per share for the current year.

In other news, EVP Alfred Sandrock sold 743 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $292.00, for a total value of $216,956.00. Following the sale, the executive vice president now directly owns 6,553 shares in the company, valued at $1,913,476. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 2,296 shares of company stock worth $678,993. Company insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Buckingham Capital Management Inc. increased its holdings in Biogen by 13.2% during the 3rd quarter. Buckingham Capital Management Inc. now owns 2,723 shares of the biotechnology company’s stock worth $853,000 after purchasing an additional 318 shares during the period. Vident Investment Advisory LLC purchased a new position in Biogen during the 3rd quarter worth $308,000. GSA Capital Partners LLP increased its holdings in Biogen by 68.5% during the 3rd quarter. GSA Capital Partners LLP now owns 2,288 shares of the biotechnology company’s stock worth $716,000 after purchasing an additional 930 shares during the period. Atlantic Trust Group LLC increased its holdings in Biogen by 5.3% during the 3rd quarter. Atlantic Trust Group LLC now owns 16,692 shares of the biotechnology company’s stock worth $5,226,000 after purchasing an additional 844 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd increased its holdings in Biogen by 70.0% during the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 3,400 shares of the biotechnology company’s stock worth $1,083,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 88.92% of the company’s stock.

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About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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