HC Wainwright reiterated their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report published on Wednesday morning. They currently have a $360.00 target price on the biotechnology company’s stock.
Other analysts have also recently issued research reports about the stock. Vetr cut shares of Biogen from a hold rating to a sell rating and set a $265.77 target price for the company. in a research note on Monday, July 25th. BMO Capital Markets raised their price target on shares of Biogen from $286.00 to $304.00 and gave the stock a market perform rating in a research report on Monday, August 1st. Piper Jaffray Cos. reaffirmed a neutral rating on shares of Biogen in a research report on Wednesday, August 3rd. Credit Suisse Group AG set a $322.00 price target on shares of Biogen and gave the stock a hold rating in a research report on Sunday, September 18th. Finally, Robert W. Baird reaffirmed a positive rating and set a $284.00 price target (up from $268.00) on shares of Biogen in a research report on Monday, August 1st. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $347.34.
Biogen (NASDAQ:BIIB) opened at 291.67 on Wednesday. The firm has a 50-day moving average of $305.50 and a 200-day moving average of $281.57. The firm has a market capitalization of $63.91 billion, a price-to-earnings ratio of 17.04 and a beta of 0.95. 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 Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.52. The company earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. Biogen’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.22 EPS. On average, equities research analysts forecast that Biogen will post $20.08 EPS for the current fiscal year.
In other Biogen news, EVP Adriana Karaboutis sold 380 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $313.00, for a total transaction of $118,940.00. Following the completion of the sale, the executive vice president now owns 7,172 shares in the company, valued at approximately $2,244,836. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the business’s stock in a transaction on 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 approximately $6,174,182. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Biogen by 9.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,909 shares of the biotechnology company’s stock worth $1,018,000 after buying an additional 338 shares during the period. Spark Investment Management LLC purchased a new stake in Biogen during the first quarter valued at about $1,275,000. Ancora Inverness LLC purchased a new stake in Biogen during the first quarter valued at about $686,000. Associated Banc Corp raised its stake in Biogen by 4.9% in the first quarter. Associated Banc Corp now owns 14,622 shares of the biotechnology company’s stock valued at $3,806,000 after buying an additional 688 shares during the last quarter. Finally, AMF Pensionsforsakring AB raised its stake in Biogen by 6.4% in the first quarter. AMF Pensionsforsakring AB now owns 284,958 shares of the biotechnology company’s stock valued at $74,180,000 after buying an additional 17,134 shares during the last quarter. Institutional investors and hedge funds own 86.21% of the company’s stock.