Morgan Stanley Raises Biogen (NASDAQ:BIIB) Price Target to $212.00

Biogen (NASDAQ:BIIB) had its price objective boosted by Morgan Stanley from $211.00 to $212.00 in a research note released on Friday, BenzingaRatingsTable reports. Morgan Stanley currently has an underweight rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the company. Piper Jaffray Companies reiterated a hold rating on shares of Biogen in a research report on Friday, July 26th. JPMorgan Chase & Co. set a $244.00 price objective on Biogen and gave the stock a hold rating in a research note on Monday, September 23rd. Royal Bank of Canada set a $242.00 price objective on Biogen and gave the stock a hold rating in a research note on Friday, September 6th. Cowen reissued a buy rating and issued a $275.00 price objective on shares of Biogen in a research note on Tuesday, July 30th. Finally, Mizuho reissued a hold rating on shares of Biogen in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $270.09.

NASDAQ:BIIB opened at $225.76 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. Biogen has a 1-year low of $215.77 and a 1-year high of $344.00. The firm has a market capitalization of $41.17 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. The stock has a fifty day simple moving average of $228.13 and a 200 day simple moving average of $231.28.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the company posted $5.80 EPS. Biogen’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that Biogen will post 32.37 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Biogen by 33.7% in the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock valued at $991,793,000 after acquiring an additional 1,063,775 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Biogen by 52.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock valued at $580,717,000 after acquiring an additional 851,263 shares in the last quarter. Boston Partners raised its stake in shares of Biogen by 70.1% in the 2nd quarter. Boston Partners now owns 1,569,859 shares of the biotechnology company’s stock valued at $367,141,000 after acquiring an additional 647,141 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Biogen by 6.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,380,379 shares of the biotechnology company’s stock valued at $322,829,000 after acquiring an additional 84,065 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Biogen by 506.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,319,080 shares of the biotechnology company’s stock valued at $308,493,000 after acquiring an additional 1,101,563 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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