HC Wainwright reiterated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Friday morning, AnalystRatings.com reports. The firm currently has a $335.00 price target on the biotechnology company’s stock.
Several other analysts have also weighed in on BIIB. William Blair reiterated a hold rating on shares of Biogen in a research report on Friday, October 25th. Royal Bank of Canada restated a hold rating and issued a $267.00 price objective on shares of Biogen in a research report on Monday, November 18th. BMO Capital Markets upped their price target on Biogen from $250.00 to $297.00 and gave the company a market perform rating in a research note on Wednesday, October 23rd. Credit Suisse Group lifted their target price on shares of Biogen from $203.00 to $260.00 and gave the stock an underperform rating in a report on Wednesday, October 23rd. Finally, TheStreet raised Biogen from a c+ rating to a b rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and ten have issued a buy rating to the stock. Biogen currently has an average rating of Hold and an average price target of $289.69.
Shares of NASDAQ:BIIB opened at $300.26 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.74 and a current ratio of 1.91. The stock’s 50-day moving average is $285.65 and its 200-day moving average is $244.76. The company has a market cap of $54.18 billion, a P/E ratio of 11.46, a P/E/G ratio of 1.14 and a beta of 1.08. Biogen has a 52-week low of $215.77 and a 52-week high of $344.00.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share for the quarter, beating 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 return on equity of 46.14% and a net margin of 37.91%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.40 EPS. As a group, equities analysts predict that Biogen will post 33.14 EPS for the current year.
In related news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $292.35, for a total value of $308,429.25. Following the completion of the sale, the director now owns 6,995 shares of the company’s stock, valued at approximately $2,044,988.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.39% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC raised its holdings in Biogen by 506.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,319,080 shares of the biotechnology company’s stock valued at $308,493,000 after acquiring an additional 1,101,563 shares during the period. Renaissance Technologies LLC lifted its stake in Biogen by 52.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock worth $580,717,000 after purchasing an additional 851,263 shares in the last quarter. Boston Partners boosted its holdings in Biogen by 70.1% in the 2nd quarter. Boston Partners now owns 1,569,859 shares of the biotechnology company’s stock valued at $367,141,000 after purchasing an additional 647,141 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Biogen by 1,345.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 674,932 shares of the biotechnology company’s stock valued at $157,138,000 after purchasing an additional 628,233 shares in the last quarter. Finally, Banco Santander S.A. grew its position in shares of Biogen by 10,997.3% during the 3rd quarter. Banco Santander S.A. now owns 342,795 shares of the biotechnology company’s stock valued at $79,809,000 after purchasing an additional 339,706 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.
Biogen Company Profile
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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