Today, Robert W. Baird Reaffirmed Neutral Rating for Biogen Inc. (BIIB)

Today, Robert W. Baird Reaffirmed Neutral Rating for Biogen Inc. (BIIB)

Biogen Inc. (NASDAQ:BIIB)‘s stock had its “neutral” rating reiterated by equities researchers at Robert W. Baird in a report issued on Saturday. They presently have a $284.00 target price on the biotechnology company’s stock. Robert W. Baird’s price target would suggest a potential downside of 6.95% from the company’s current price.

A number of other brokerages have also recently commented on BIIB. Piper Jaffray Cos. restated a “neutral” rating on shares of Biogen in a research note on Wednesday, August 3rd. Leerink Swann upgraded shares of Biogen from a “market perform” rating to an “outperform” rating in a research note on Monday, November 7th. Vetr upgraded shares of Biogen from a “hold” rating to a “buy” rating and set a $321.54 price target on the stock in a research note on Monday, October 10th. Jefferies Group decreased their target price 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 reaffirmed a “hold” rating and set a $322.00 target price on shares of Biogen in a report on Wednesday, August 3rd. Nine research 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 stock presently has an average rating of “Buy” and an average target price of $338.93.

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

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results 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 company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. Biogen’s 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 EPS. Equities research analysts predict that Biogen will post $20.22 earnings per share for the current fiscal year.

In other Biogen news, EVP Adriana Karaboutis sold 262 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were 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 approximately $2,364,193.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the firm’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 sale, the director now owns 19,663 shares of the company’s stock, valued at $6,174,182. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc raised its stake in Biogen by 47.6% in the second quarter. NEXT Financial Group Inc now owns 1,283 shares of the biotechnology company’s stock worth $310,000 after buying an additional 414 shares in the last quarter. Cohen Lawrence B purchased a new stake in Biogen during the second quarter worth $1,422,000. CenturyLink Investment Management Co raised its stake in Biogen by 205.1% in the second quarter. CenturyLink Investment Management Co now owns 1,925 shares of the biotechnology company’s stock worth $466,000 after buying an additional 1,294 shares in the last quarter. Moreno Evelyn V raised its stake in Biogen by 769.2% in the second quarter. Moreno Evelyn V now owns 11,995 shares of the biotechnology company’s stock worth $2,900,000 after buying an additional 10,615 shares in the last quarter. Finally, West Oak Capital LLC raised its stake in Biogen by 5.5% in the second quarter. West Oak Capital LLC now owns 4,574 shares of the biotechnology company’s stock worth $1,106,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

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