Today: Biogen Inc. (BIIB) Price Target Decreased to $355.00 at Leerink Swann

Today: Biogen Inc. (BIIB) Price Target Decreased to $355.00 at Leerink Swann

Biogen Inc. (NASDAQ:BIIB) had its price target lowered by Leerink Swann from $365.00 to $355.00 in a report issued on Friday morning. The firm currently has an outperform rating on the biotechnology company’s stock.

BIIB has been the topic of several other research reports. Vetr raised Biogen from a buy rating to a strong-buy rating and set a $343.10 price objective on the stock in a report on Thursday, September 29th. JPMorgan Chase & Co. reissued a buy rating and set a $386.00 price objective on shares of Biogen in a report on Friday, September 16th. BMO Capital Markets reissued a market perform rating and set a $304.00 price objective on shares of Biogen in a report on Tuesday, October 4th. Finally, HC Wainwright reissued a buy rating and set a $360.00 price objective on shares of Biogen in a report on Thursday, September 8th. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned 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 price target of $338.93.

Shares of Biogen (NASDAQ:BIIB) opened at 305.20 on Friday. 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 price of $299.88 and a 200 day moving average price of $287.26. The company has a market capitalization of $66.40 billion, a P/E ratio of 17.26 and a beta of 0.75.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.22. The firm had revenue of $2.96 billion for 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 company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.48 EPS. On average, equities research analysts predict that Biogen will post $20.22 EPS for the current fiscal year.

In other Biogen news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Adriana Karaboutis sold 262 shares of the business’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total transaction of $81,728.28. Following the sale, the executive vice president now directly owns 7,579 shares in the company, valued at approximately $2,364,193.26. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in shares of Biogen during the first quarter worth about $1,942,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of 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 last quarter. Oak Associates Ltd. OH acquired a new stake in shares of Biogen during the first quarter worth about $469,000. First Republic Investment Management Inc. boosted its stake in shares of 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 last quarter. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Biogen during the first quarter worth about $712,000. 86.43% of the stock is currently owned by institutional investors and hedge funds.

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