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

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

Biogen Inc. (NASDAQ:BIIB) received a $335.00 target price from equities researchers at Piper Jaffray Cos. in a report issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Piper Jaffray Cos.’s price target indicates a potential upside of 9.76% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price target for the company in a research report on Monday, September 12th. Zacks Investment Research raised shares of Biogen from a “hold” rating to a “buy” rating and set a $321.00 price target for the company in a research report on Wednesday, July 27th. Jefferies Group reaffirmed a “buy” rating and set a $319.00 price target on shares of Biogen in a research report on Sunday, September 4th. Bank of America Corp. reaffirmed a “buy” rating and set a $374.00 price target on shares of Biogen in a research report on Thursday, September 22nd. Finally, BMO Capital Markets upped their price target on shares of Biogen from $286.00 to $304.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $339.38.

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

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.22. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The firm earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the company earned $4.48 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Biogen will post $20.22 earnings per share for the current year.

In other Biogen news, EVP Adriana Karaboutis sold 262 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Heartland Consultants Inc. boosted its position in Biogen by 13.6% in the third quarter. First Heartland Consultants Inc. now owns 1,792 shares of the biotechnology company’s stock valued at $561,000 after buying an additional 215 shares during the period. Advent Capital Management DE boosted its position in Biogen by 13.3% in the third quarter. Advent Capital Management DE now owns 17,000 shares of the biotechnology company’s stock valued at $5,322,000 after buying an additional 2,000 shares during the period. Auxier Asset Management boosted its position in Biogen by 25.9% in the third quarter. Auxier Asset Management now owns 22,635 shares of the biotechnology company’s stock valued at $7,085,000 after buying an additional 4,650 shares during the period. ETRADE Capital Management LLC boosted its position in Biogen by 63.1% in the third quarter. ETRADE Capital Management LLC now owns 4,625 shares of the biotechnology company’s stock valued at $1,448,000 after buying an additional 1,789 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in Biogen during the third quarter valued at about $14,107,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Biogen Company Profile

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