Trading Report: Today, Biogen Inc. (BIIB) Earns Neutral Rating from Robert W. Baird

Today, Biogen Inc. (BIIB) Earns Neutral Rating from Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research report released on Saturday. They currently have a $284.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on BIIB. BMO Capital Markets upped their price target on Biogen from $286.00 to $304.00 and gave the stock a market perform rating in a research note on Monday, August 1st. Leerink Swann increased their target price on Biogen from $360.00 to $367.00 and gave the stock a market perform rating in a research note on Monday, August 1st. Raymond James Financial Inc. increased their target price on Biogen from $360.00 to $375.00 and gave the stock a strong-buy rating in a research note on Tuesday, August 2nd. Standpoint Research cut Biogen from a buy rating to a hold rating in a research note on Tuesday, August 2nd. Finally, Vetr cut Biogen from a hold rating to a sell rating and set a $299.76 target price on the stock. in a research note on Tuesday, August 2nd. Nine 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 stock. The stock currently has a consensus rating of Buy and a consensus target price of $338.93.

Shares of Biogen (NASDAQ:BIIB) traded down 0.24% during midday trading on Friday, reaching $305.20. The company had a trading volume of 741,587 shares. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The company has a 50 day moving average of $299.88 and a 200 day moving average of $287.26. 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 issued its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, topping the Thomson Reuters’ 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 return on equity of 40.02% and a net margin of 34.03%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.48 earnings per share. Analysts anticipate that Biogen will post $20.22 EPS for the current year.

In related news, Director Caroline Dorsa sold 27,570 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the sale, the director now directly owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Adriana Karaboutis sold 262 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $311.94, for a total value of $81,728.28. Following the sale, the executive vice president now directly 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.

Several large investors have recently modified their holdings of BIIB. Assetmark Inc. raised 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. Quadrant Capital Group LLC raised 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. Winfield Associates Inc. raised 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 raised 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. Finally, Kings Point Capital Management acquired a new stake in shares of Biogen during the second quarter worth about $145,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

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