Trade Report: Today: Analysts give average Rating of “Buy” to Biogen Inc. (BIIB)

Today: Analysts give average Rating of “Buy” to Biogen Inc. (BIIB)

Biogen Inc. (NASDAQ:BIIB) has been given a consensus rating of “Buy” by the twenty-six ratings firms that are currently covering the stock. Nine equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $339.55.

A number of research firms have weighed in on BIIB. Robert W. Baird reaffirmed a “neutral” rating and issued a $284.00 price objective on shares of Biogen in a report on Saturday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $294.00 price objective on shares of Biogen in a report on Saturday. Credit Suisse Group AG set a $322.00 price objective on shares of Biogen and gave the company a “hold” rating in a report on Thursday. Piper Jaffray Cos. set a $335.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Thursday. Finally, Leerink Swann cut their price objective on shares of Biogen from $365.00 to $355.00 and set an “outperform” rating for the company in a report on Friday.

Shares of Biogen (NASDAQ:BIIB) traded down 0.11% during mid-day trading on Monday, reaching $304.87. 519,736 shares of the company’s stock traded hands. The company’s 50-day moving average price is $299.88 and its 200-day moving average price is $287.26. The stock has a market capitalization of $66.33 billion, a PE ratio of 17.24 and a beta of 0.75. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.22. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The company earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the previous year, the company earned $4.48 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts anticipate that Biogen will post $20.22 earnings per share for the current year.

In other Biogen news, EVP Adriana Karaboutis sold 262 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 7,579 shares of the company’s stock, valued at approximately $2,364,193.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of the stock in a transaction that occurred 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 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 currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of Biogen by 1.1% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 115,100 shares of the biotechnology company’s stock worth $27,833,000 after buying an additional 1,200 shares in the last quarter. Strs Ohio increased its stake in shares of Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock worth $73,337,000 after buying an additional 29,114 shares in the last quarter. Boston Advisors LLC increased its stake in shares of Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock worth $30,795,000 after buying an additional 121,866 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock worth $13,342,000 after buying an additional 37,015 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Biogen by 8.3% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 71,248 shares of the biotechnology company’s stock worth $17,229,000 after buying an additional 5,465 shares in the last quarter. 86.43% of the stock is currently owned by institutional investors.

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