Trading Report: Today, Biogen’s (BIIB) Market Perform Rating Reiterate at BMO Capital Markets

Today, Biogen’s (BIIB) Market Perform Rating Reiterate at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report released on Saturday. The firm currently has a $294.00 target price on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Vetr raised shares of Biogen from a buy rating to a strong-buy rating and set a $346.47 target price for the company in a report on Monday, September 12th. Piper Jaffray Cos. reaffirmed a neutral rating and issued a $333.00 target price (up from $293.00) on shares of Biogen in a report on Tuesday, August 16th. Jefferies Group reaffirmed a buy rating and issued a $319.00 target price on shares of Biogen in a report on Sunday, September 4th. Bank of America Corp. reaffirmed a buy rating and issued a $374.00 target price on shares of Biogen in a report on Thursday, September 22nd. Finally, Leerink Swann set a $367.00 target price on shares of Biogen and gave the company a hold rating in a report on Wednesday, October 12th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen presently has an average rating of Buy and an average target price of $338.93.

Biogen (NASDAQ:BIIB) traded down 0.24% on Friday, reaching $305.20. The company had a trading volume of 741,587 shares. The stock has a 50 day moving average price of $299.88 and a 200 day moving average price of $287.26. The stock has a market capitalization of $66.40 billion, a PE 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.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.22. The firm earned $2.96 billion during the quarter, compared to the consensus estimate of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.48 earnings per share. Analysts expect that Biogen will post $20.22 EPS for the current year.

In other news, 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 value of $8,656,980.00. Following the completion of the sale, the director now 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 is available through the SEC website. Also, EVP Adriana Karaboutis sold 262 shares of the business’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 of the company’s stock, valued at approximately $2,364,193.26. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of 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 shares of 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 shares of 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 shares of 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 shares of Biogen during the third quarter worth $184,000. 87.75% of the stock is owned by institutional investors.

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