Todays Report: Today, Biogen Inc. (BIIB) Given a $335.00 Price Target at Piper Jaffray Cos.

Today, Biogen Inc. (BIIB) Given a $335.00 Price Target at Piper Jaffray Cos.

Piper Jaffray Cos. set a $335.00 price target on Biogen Inc. (NASDAQ:BIIB) in a research report sent to investors on Thursday. The brokerage currently has a buy rating on the biotechnology company’s stock.

BIIB has been the topic of a number of other reports. Zacks Investment Research raised Biogen from a hold rating to a buy rating and set a $321.00 price objective on the stock in a report on Wednesday, July 27th. Vetr raised Biogen from a sell rating to a hold rating and set a $289.05 price objective on the stock in a report on Wednesday, July 27th. BMO Capital Markets increased their price objective on Biogen from $286.00 to $304.00 and gave the company a market perform rating in a report on Monday, August 1st. Leerink Swann increased their price objective on Biogen from $360.00 to $367.00 and gave the company a market perform rating in a report on Monday, August 1st. Finally, Robert W. Baird reissued a positive rating and issued a $284.00 price objective (up from $268.00) on shares of Biogen in a report on Monday, August 1st. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Biogen presently has a consensus rating of Buy and a consensus target price of $339.38.

Shares of Biogen (NASDAQ:BIIB) traded down 0.24% during mid-day trading on Thursday, reaching $305.20. The company had a trading volume of 741,587 shares. The company has a market capitalization of $66.40 billion, a price-to-earnings ratio of 17.26 and a beta of 0.75. Biogen has a 52 week low of $223.02 and a 52 week high of $333.65. The stock has a 50 day moving average of $299.88 and a 200-day moving average of $287.26.

Biogen (NASDAQ:BIIB) last announced its earnings results 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. Biogen had a return on equity of 40.02% and a net margin of 34.03%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the company posted $4.48 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts expect that Biogen will post $20.22 earnings per share for the current fiscal year.

In other news, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the transaction, the director now owns 19,663 shares in the company, valued at $6,174,182. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Adriana Karaboutis sold 262 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total value of $81,728.28. Following the completion of the transaction, the executive vice president now owns 7,579 shares in the company, valued at approximately $2,364,193.26. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Biogen by 1.1% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 115,100 shares of the biotechnology company’s stock valued at $27,833,000 after buying an additional 1,200 shares in the last quarter. Strs Ohio boosted its stake in Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock valued at $73,337,000 after buying an additional 29,114 shares in the last quarter. Boston Advisors LLC boosted its stake in Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock valued at $30,795,000 after buying an additional 121,866 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock valued at $13,342,000 after buying an additional 37,015 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Biogen by 8.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 71,248 shares of the biotechnology company’s stock valued at $17,229,000 after buying an additional 5,465 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

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