Biogen (NASDAQ:BIIB) has been given a $378.00 price objective by equities research analysts at J P Morgan Chase & Co in a report released on Monday, November 27th. The firm presently has a “buy” rating on the biotechnology company’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 20.13% from the company’s previous close.
A number of other equities research analysts also recently issued reports 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 research note on Tuesday, August 29th. ValuEngine downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. SunTrust Banks reiterated a “buy” rating and set a $354.00 price objective on shares of Biogen in a research report on Tuesday, October 24th. Canaccord Genuity initiated coverage on shares of Biogen in a research report on Friday, October 27th. They set a “hold” rating and a $340.00 price objective on the stock. Finally, BMO Capital Markets upgraded shares of Biogen from a “market perform” rating to an “outperform” rating and set a $377.00 price objective on the stock in a research report on Wednesday, October 25th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $344.60.
Shares of Biogen (NASDAQ BIIB) traded down $5.21 during trading hours on Monday, reaching $314.66. 938,700 shares of the company’s stock traded hands, compared to its average volume of 1,484,260. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen has a twelve month low of $244.28 and a twelve month high of $348.84. The stock has a market capitalization of $67,645.12, a P/E ratio of 14.82, a P/E/G ratio of 2.00 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping 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 firm 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 quarterly revenue was up 4.1% compared to the same quarter last year. research analysts expect that Biogen will post 22.03 EPS for the current year.
In other news, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now owns 10,029 shares in the company, valued at approximately $3,182,803.44. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in BIIB. Prentiss Smith & Co. Inc. increased its holdings in Biogen by 14.9% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the period. Horan Capital Advisors LLC. acquired a new position in Biogen in the 3rd quarter worth approximately $128,000. Atlantic Trust LLC acquired a new position in Biogen in the 2nd quarter worth approximately $114,000. Massey Quick Simon & CO. LLC increased its holdings in Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after buying an additional 195 shares during the period. Finally, Independent Portfolio Consultants Inc. increased its holdings in Biogen by 93.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.
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Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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