Today: Today, Biogen Inc. (BIIB) Lowered by Vetr Inc.

Today, Biogen Inc. (BIIB) Lowered by Vetr Inc.

Biogen Inc. (NASDAQ:BIIB) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $316.41 target price on the biotechnology company’s stock. Vetr‘s price objective indicates a potential upside of 3.67% from the company’s current price.

Several other research analysts have also recently commented on BIIB. Zacks Investment Research cut Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Jefferies Group reissued a “buy” rating and set a $317.00 target price on shares of Biogen in a research note on Wednesday, July 13th. Morgan Stanley boosted their target price on Biogen from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Thursday, July 21st. Piper Jaffray Cos. set a $293.00 target price on Biogen and gave the stock a “hold” rating in a research note on Thursday, July 21st. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $312.00 target price on shares of Biogen in a research note on Friday, July 22nd. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $339.38.

Shares of Biogen (NASDAQ:BIIB) traded down 0.24% on Monday, hitting $305.20. The stock had a trading volume of 741,587 shares. Biogen has a 52-week low of $223.02 and a 52-week high of $333.65. The firm has a market cap of $66.40 billion, a PE ratio of 17.26 and a beta of 0.75. The firm’s 50-day moving average price is $299.88 and its 200 day moving average price is $287.26.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.97 by $0.22. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.91 billion. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.48 EPS. On average, equities research analysts predict that Biogen will post $20.22 EPS for the current year.

In other news, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the sale, the director now owns 19,663 shares in the company, valued at $6,174,182. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adriana Karaboutis sold 380 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the sale, the executive vice president now owns 7,172 shares in the company, valued at approximately $2,244,836. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Several large investors have recently bought and sold shares of BIIB. Prudential PLC boosted its stake in Biogen by 396.9% in the first quarter. Prudential PLC now owns 28,247 shares of the biotechnology company’s stock valued at $7,353,000 after buying an additional 22,562 shares during the period. Renaissance Technologies LLC acquired a new stake in Biogen during the first quarter valued at about $33,233,000. Nuveen Asset Management LLC boosted its stake in Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock valued at $26,497,000 after buying an additional 51,375 shares during the period. Williams Jones & Associates LLC boosted its stake in Biogen by 1.8% in the first quarter. Williams Jones & Associates LLC now owns 7,897 shares of the biotechnology company’s stock valued at $2,056,000 after buying an additional 138 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Biogen by 66.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 374,324 shares of the biotechnology company’s stock valued at $97,444,000 after buying an additional 149,200 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

Biogen Company Profile

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

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