Biogen Inc. (NASDAQ:BIIB) received a $335.00 price target from equities research analysts at Piper Jaffray Cos. in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Piper Jaffray Cos.’s price target indicates a potential upside of 9.76% from the company’s current price.
Other equities analysts also recently issued reports about the company. Leerink Swann lowered their price target on Biogen to $355.00 in a report on Friday. 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. Morgan Stanley reaffirmed a “buy” rating and issued a $385.00 price target on shares of Biogen in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $319.00 price target on shares of Biogen in a report on Thursday, August 4th. Finally, Vetr raised Biogen from a “hold” rating to a “buy” rating and set a $326.73 price target for the company in a report 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 company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $339.38.
Shares of Biogen (NASDAQ:BIIB) traded down 0.24% during midday trading on Thursday, hitting $305.20. 741,587 shares of the stock were exchanged. The company has a market cap of $66.40 billion, a price-to-earnings ratio of 17.26 and a beta of 0.75. Biogen has a one year low of $223.02 and a one year high of $333.65. The firm has a 50 day moving average of $299.88 and a 200-day moving average of $287.26.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (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 return on equity of 40.02% and a net margin of 34.03%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.48 earnings per share. Equities analysts expect that Biogen will post $20.22 EPS for the current year.
In other Biogen news, EVP Adriana Karaboutis sold 380 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $313.00, for a total value of $118,940.00. Following the sale, the executive vice president now directly owns 7,172 shares of the company’s stock, valued at approximately $2,244,836. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 19,663 shares in the company, valued at $6,174,182. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of BIIB. Squarepoint Ops LLC purchased a new position in Biogen during the first quarter worth approximately $1,942,000. Ladenburg Thalmann Financial Services Inc. increased its position 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 worth $1,768,000 after buying an additional 820 shares during the period. Oak Associates Ltd. OH purchased a new position in Biogen during the first quarter worth approximately $469,000. First Republic Investment Management Inc. increased its position 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 worth $12,824,000 after buying an additional 13,609 shares during the period. Finally, BlueMountain Capital Management LLC purchased a new position in Biogen during the first quarter worth approximately $712,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.