Biogen Inc (NASDAQ:BIIB) has earned a consensus rating of “Hold” from the thirty-seven ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, twenty-one have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $288.59.
Several equities research analysts recently issued reports on BIIB shares. Stifel Nicolaus lifted their price objective on Biogen from $236.00 to $296.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. William Blair reissued a “hold” rating on shares of Biogen in a report on Friday, October 25th. Oppenheimer set a $280.00 target price on Biogen and gave the company a “buy” rating in a research report on Tuesday, October 15th. Mizuho reaffirmed a “hold” rating and issued a $235.00 price target on shares of Biogen in a research note on Tuesday, October 22nd. Finally, Sanford C. Bernstein raised Biogen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 29th.
In other news, Director Brian S. Posner sold 1,055 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $292.35, for a total transaction of $308,429.25. Following the completion of the transaction, the director now directly owns 6,995 shares in the company, valued at $2,044,988.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.39% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Auxier Asset Management lifted its position in Biogen by 3.7% during the 2nd quarter. Auxier Asset Management now owns 27,217 shares of the biotechnology company’s stock worth $6,365,000 after acquiring an additional 960 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Biogen by 9.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 30,550 shares of the biotechnology company’s stock valued at $7,113,000 after purchasing an additional 2,693 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Biogen by 16.9% in the third quarter. Pictet Asset Management Ltd. now owns 756,103 shares of the biotechnology company’s stock valued at $176,036,000 after purchasing an additional 109,336 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Biogen by 12.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,638 shares of the biotechnology company’s stock valued at $19,327,000 after purchasing an additional 9,094 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Biogen by 64.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,157 shares of the biotechnology company’s stock worth $1,674,000 after purchasing an additional 2,803 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
BIIB traded up $0.71 during midday trading on Friday, hitting $300.97. 9,562 shares of the company traded hands, compared to its average volume of 1,956,724. The business has a 50 day simple moving average of $285.65 and a two-hundred day simple moving average of $244.76. Biogen has a 52-week low of $215.77 and a 52-week high of $344.00. The company has a market capitalization of $54.18 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.14 and a beta of 1.08. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share for the quarter, topping the consensus estimate of $8.27 by $0.90. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.40 EPS. Equities research analysts anticipate that Biogen will post 33.14 earnings per share for the current year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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