Brokerages Set Biogen Inc (BIIB) PT at $282.33

Biogen Inc (NASDAQ:BIIB) has been given an average recommendation of “Hold” by the thirty-five ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $278.50.

A number of equities analysts have weighed in on BIIB shares. BidaskClub cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. HC Wainwright reissued a “buy” rating and issued a $363.00 price objective on shares of Biogen in a research report on Tuesday, February 19th. Mizuho set a $427.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Tuesday, January 29th. Stifel Nicolaus upped their price objective on shares of Biogen from $392.00 to $397.00 and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, Oppenheimer set a $372.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Friday, January 25th.

NASDAQ:BIIB opened at $235.04 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. The stock has a market capitalization of $45.16 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.04 and a beta of 1.01. Biogen has a 1-year low of $216.12 and a 1-year high of $388.67.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.10. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.05 EPS. As a group, sell-side analysts expect that Biogen will post 29.58 earnings per share for the current fiscal year.

In other Biogen news, CEO Michel Vounatsos acquired 4,351 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pangia sold 6,114 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the sale, the director now owns 24,701 shares in the company, valued at approximately $8,115,513.55. The disclosure for this sale can be found here. In the last 90 days, insiders bought 173,035 shares of company stock worth $39,759,632. Company insiders own 0.29% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BTIM Corp. raised its stake in Biogen by 132.0% during the fourth quarter. BTIM Corp. now owns 6,054 shares of the biotechnology company’s stock worth $1,822,000 after acquiring an additional 3,445 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Biogen by 4.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 135,222 shares of the biotechnology company’s stock worth $40,691,000 after acquiring an additional 5,587 shares during the period. Gotham Asset Management LLC raised its stake in Biogen by 34.3% during the fourth quarter. Gotham Asset Management LLC now owns 106,435 shares of the biotechnology company’s stock worth $32,028,000 after acquiring an additional 27,164 shares during the period. Smith Asset Management Group LP raised its stake in Biogen by 31.5% during the fourth quarter. Smith Asset Management Group LP now owns 115,491 shares of the biotechnology company’s stock worth $34,872,000 after acquiring an additional 27,672 shares during the period. Finally, Triangle Securities Wealth Management raised its stake in Biogen by 0.9% during the first quarter. Triangle Securities Wealth Management now owns 6,813 shares of the biotechnology company’s stock worth $1,610,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 88.33% of the company’s stock.

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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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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