Mizuho set a $400.00 price target on Biogen (NASDAQ:BIIB) in a research report released on Thursday. The brokerage currently has a buy rating on the biotechnology company’s stock.
Several other equities analysts also recently weighed in on the stock. Vetr downgraded shares of Biogen from a strong-buy rating to a buy rating and set a $319.53 price target on the stock. in a report on Tuesday, August 29th. ValuEngine downgraded shares of Biogen from a buy rating to a hold rating in a report on Friday, September 1st. SunTrust Banks reaffirmed a buy rating and set a $354.00 price target on shares of Biogen in a report on Tuesday, October 24th. Canaccord Genuity started coverage on shares of Biogen in a report on Friday, October 27th. They set a hold rating and a $340.00 price target on the stock. Finally, BMO Capital Markets raised shares of Biogen from a market perform rating to an outperform rating and set a $377.00 price target on the stock in a report on Wednesday, October 25th. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Biogen has a consensus rating of Buy and a consensus price target of $350.13.
Biogen traded down $3.02 on Thursday, hitting $319.50. 877,091 shares of the company were exchanged, compared to its average volume of 1,158,551. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The stock has a market capitalization of $68,205.52, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. Biogen has a one year low of $244.28 and a one year high of $348.84.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm earned $5.19 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. research analysts predict that Biogen will post 22.02 EPS for the current fiscal year.
In related news, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the acquisition, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Trust Group LLC increased its position in Biogen by 5.3% during the third quarter. Atlantic Trust Group LLC now owns 16,692 shares of the biotechnology company’s stock valued at $5,226,000 after acquiring an additional 844 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Biogen by 3.4% during the third quarter. Parametric Portfolio Associates LLC now owns 743,537 shares of the biotechnology company’s stock valued at $232,816,000 after acquiring an additional 24,415 shares during the last quarter. Institutional & Family Asset Management LLC increased its position in Biogen by 19.9% during the third quarter. Institutional & Family Asset Management LLC now owns 2,310 shares of the biotechnology company’s stock valued at $723,000 after acquiring an additional 384 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Biogen during the third quarter valued at $792,000. Finally, Visionary Asset Management Inc. bought a new position in Biogen during the third quarter valued at $219,000. Institutional investors own 88.12% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neur...
(All Rights Reserved)