Biogen (NASDAQ:BIIB) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Tuesday.
Several other brokerages also recently issued reports on BIIB. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a report on Friday, October 12th. UBS Group raised their price target on Biogen from $354.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Robert W. Baird downgraded Biogen from an “outperform” rating to a “neutral” rating and set a $323.00 price target for the company. in a report on Tuesday, July 10th. Oppenheimer set a $400.00 price target on Biogen and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Citigroup raised their price target on Biogen to $483.00 and gave the company a “positive” rating in a report on Thursday, July 26th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $383.01.
Shares of NASDAQ:BIIB traded up $3.13 during midday trading on Tuesday, hitting $320.28. The stock had a trading volume of 901,181 shares, compared to its average volume of 1,631,196. Biogen has a 12 month low of $249.17 and a 12 month high of $388.67. The stock has a market capitalization of $63.00 billion, a PE ratio of 14.69, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm posted $6.31 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Biogen will post 25.58 earnings per share for the current fiscal year.
In other news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at $1,498,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Partners LLC raised its stake in Biogen by 3.6% in the third quarter. Advisor Partners LLC now owns 5,605 shares of the biotechnology company’s stock valued at $1,980,000 after purchasing an additional 195 shares in the last quarter. Columbia Asset Management acquired a new position in Biogen in the third quarter valued at about $163,000. SG Americas Securities LLC raised its stake in Biogen by 63.4% in the third quarter. SG Americas Securities LLC now owns 53,826 shares of the biotechnology company’s stock valued at $19,017,000 after purchasing an additional 20,884 shares in the last quarter. LSV Asset Management raised its stake in Biogen by 28.5% in the third quarter. LSV Asset Management now owns 759,111 shares of the biotechnology company’s stock valued at $268,201,000 after purchasing an additional 168,183 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in Biogen by 294.4% in the third quarter. Systematic Financial Management LP now owns 6,311 shares of the biotechnology company’s stock valued at $2,230,000 after purchasing an additional 4,711 shares in the last quarter. 87.55% of the stock is owned by institutional investors.
Biogen Company Profile
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.
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