Biogen Inc. (NASDAQ:BIIB) has been assigned a $367.00 price target by investment analysts at Leerink Swann in a report issued on Wednesday. The firm currently has a a “hold” rating on the biotechnology company’s stock. Leerink Swann’s target price points to a potential upside of 24.66% from the stock’s current price.
Several other analysts have also issued reports on the company. Morgan Stanley reissued a “buy” rating on shares of Biogen in a report on Thursday, June 30th. Sanford C. Bernstein started coverage on Biogen in a report on Wednesday, June 29th. They set an “outperform” rating and a $282.00 price target for the company. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price target for the company in a report on Monday, September 12th. Piper Jaffray Cos. reissued a “neutral” rating and set a $333.00 price target (up previously from $293.00) on shares of Biogen in a report on Tuesday, August 16th. Finally, Zacks Investment Research raised Biogen from a “hold” rating to a “buy” rating and set a $321.00 price target for the company in a report on Wednesday, July 27th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $347.34.
Biogen (NASDAQ:BIIB) opened at 294.41 on Wednesday. The company has a market capitalization of $64.51 billion, a price-to-earnings ratio of 17.20 and a beta of 0.95. The stock’s 50 day moving average price is $306.44 and its 200 day moving average price is $280.68. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.69 by $0.52. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The business earned $2.89 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the company posted $4.22 earnings per share. Biogen’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Biogen will post $20.08 earnings per share for the current fiscal year.
In other Biogen news, EVP Adriana Karaboutis sold 262 shares of the stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total transaction of $81,728.28. Following the transaction, the executive vice president now owns 7,579 shares of the company’s stock, valued at $2,364,193.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were 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 directly owns 19,663 shares in the company, valued at approximately $6,174,182. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Several institutional investors have recently modified their holdings of BIIB. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Biogen by 9.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,909 shares of the biotechnology company’s stock worth $1,018,000 after buying an additional 338 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of Biogen during the first quarter worth approximately $1,275,000. Ancora Inverness LLC acquired a new position in shares of Biogen during the first quarter worth approximately $686,000. AMF Pensionsforsakring AB increased its position in shares of Biogen by 6.4% in the first quarter. AMF Pensionsforsakring AB now owns 284,958 shares of the biotechnology company’s stock worth $74,180,000 after buying an additional 17,134 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Biogen by 9.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,663 shares of the biotechnology company’s stock worth $1,214,000 after buying an additional 410 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors and hedge funds.