Biogen Inc. (NASDAQ:BIIB) received a $322.00 target price from investment analysts at Credit Suisse Group AG in a research note issued on Thursday. The brokerage currently has a “hold” rating on the biotechnology company’s stock. Credit Suisse Group AG’s target price suggests a potential upside of 5.50% from the stock’s current price.
Other analysts also recently issued research reports about the stock. Piper Jaffray Cos. restated a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. BMO Capital Markets lifted their target price on shares of Biogen from $286.00 to $304.00 and gave the stock a “market perform” rating in a research note on Monday, August 1st. Vetr upgraded shares of Biogen from a “sell” rating to a “hold” rating and set a $289.05 target price for the company in a research note on Wednesday, July 27th. Leerink Swann reduced their target price on shares of Biogen to $355.00 in a research note on Friday. Finally, Robert W. Baird reiterated a “positive” rating and issued a $284.00 target price (up previously from $268.00) on shares of Biogen in a research note on Monday, August 1st. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given 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 mid-day trading on Thursday, hitting $305.20. 741,587 shares of the stock were exchanged. The stock 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’s 50-day moving average is $299.88 and its 200-day moving average 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, 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 business earned $2.96 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the company posted $4.48 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts forecast 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 company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total value of $8,656,980.00. Following the sale, the director now directly owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Adriana Karaboutis sold 262 shares of the company’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total transaction of $81,728.28. Following the completion of the sale, the executive vice president now directly owns 7,579 shares in the company, valued at $2,364,193.26. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in Biogen by 10.4% in the third quarter. Assetmark Inc. now owns 415 shares of the biotechnology company’s stock worth $130,000 after buying an additional 39 shares in the last quarter. Winfield Associates Inc. increased its stake in Biogen by 10.0% in the third quarter. Winfield Associates Inc. now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 40 shares in the last quarter. Balentine LLC increased its stake in Biogen by 685.7% in the third quarter. Balentine LLC now owns 440 shares of the biotechnology company’s stock worth $138,000 after buying an additional 384 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Biogen by 7.8% in the third quarter. Quadrant Capital Group LLC now owns 470 shares of the biotechnology company’s stock worth $136,000 after buying an additional 34 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Biogen during the third quarter worth $184,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Company Profile