Trading Report: Today, Biogen Inc. (BIIB) Rating Reiterate by Robert W. Baird

Today, Biogen Inc. (BIIB) Rating Reiterate by Robert W. Baird

Biogen Inc. (NASDAQ:BIIB)‘s stock had its “neutral” rating reissued by research analysts at Robert W. Baird in a report released on Saturday. They presently have a $284.00 target price on the biotechnology company’s stock. Robert W. Baird’s price objective suggests a potential downside of 6.95% from the company’s previous close.

A number of other research firms have also recently weighed in on BIIB. Piper Jaffray Cos. reissued a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Leerink Swann raised shares of Biogen from a “market perform” rating to an “outperform” rating in a report on Monday, November 7th. Vetr raised shares of Biogen from a “hold” rating to a “buy” rating and set a $321.54 price objective on the stock in a report on Monday, October 10th. Jefferies Group cut their price objective on shares of Biogen from $323.00 to $316.00 and set a “hold” rating on the stock in a report on Wednesday, October 5th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $322.00 target price on shares of Biogen in a research report on Wednesday, August 3rd. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $338.93.

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

Biogen (NASDAQ:BIIB) last released its quarterly earnings data 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 company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the company earned $4.48 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts forecast that Biogen will post $20.22 earnings per share for the current fiscal year.

In related news, EVP Adriana Karaboutis sold 262 shares of the business’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 of the company’s stock, valued at approximately $2,364,193.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the business’s stock in a transaction dated 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 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 corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new position in shares of Biogen during the first quarter valued at $1,942,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Biogen by 13.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,790 shares of the biotechnology company’s stock valued at $1,768,000 after buying an additional 820 shares during the period. Oak Associates Ltd. OH acquired a new stake in Biogen during the first quarter valued at approximately $469,000. First Republic Investment Management Inc. boosted its stake in Biogen by 38.2% in the first quarter. First Republic Investment Management Inc. now owns 49,266 shares of the biotechnology company’s stock valued at $12,824,000 after buying an additional 13,609 shares during the period. Finally, BlueMountain Capital Management LLC acquired a new stake in Biogen during the first quarter valued at approximately $712,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

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