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

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

Biogen Inc. (NASDAQ:BIIB)‘s stock had its “market perform” rating reiterated by equities research analysts at BMO Capital Markets in a research note issued to investors on Saturday. They presently have a $294.00 price objective on the biotechnology company’s stock. BMO Capital Markets’ price objective suggests a potential downside of 3.67% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Leerink Swann decreased their target price on Biogen to $355.00 in a research note on Friday. Jefferies Group reissued a “buy” rating and issued a $319.00 target price on shares of Biogen in a research note on Thursday, August 4th. Morgan Stanley reissued a “buy” rating and issued a $385.00 target price on shares of Biogen in a research note on Wednesday, August 3rd. Zacks Investment Research raised Biogen from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research note on Friday, August 12th. Finally, Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $326.73 target price for the company in a research note on Tuesday, August 30th. Nine research 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 stock. The stock presently has an average rating of “Buy” and an average price target of $338.93.

Shares of Biogen (NASDAQ:BIIB) traded down 0.24% on Friday, hitting $305.20. 741,587 shares of the stock were exchanged. The company’s 50 day moving average is $299.88 and its 200-day moving average is $287.26. The stock has a market cap 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 posted its earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.22. Biogen had a return on equity of 40.02% and a net margin of 34.03%. 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 earned $4.48 EPS. Biogen’s revenue was up 6.4% on a year-over-year basis. Analysts predict that Biogen will post $20.22 EPS for the current fiscal year.

In other news, Director Caroline Dorsa sold 27,570 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Adriana Karaboutis sold 262 shares of the stock in a transaction on 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 $2,364,193.26. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions 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 during 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 during 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 during 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 during the last quarter. Finally, Kings Point Capital Management acquired a new stake in shares of Biogen during the second quarter worth $145,000. 87.75% of the stock is owned by institutional investors and hedge funds.

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