Shares of Biogen Inc (NASDAQ:BIIB) have received a consensus recommendation of “Hold” from the thirty-three ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $282.33.
Several research analysts have recently issued reports on BIIB shares. Oppenheimer set a $290.00 price target on shares of Biogen and gave the stock a “buy” rating in a report on Monday, April 22nd. Cantor Fitzgerald reissued a “hold” rating and issued a $250.00 price objective on shares of Biogen in a research note on Wednesday, March 27th. Guggenheim set a $236.00 price objective on shares of Biogen and gave the stock a “hold” rating in a research note on Friday, March 22nd. Mizuho set a $235.00 price objective on shares of Biogen and gave the stock a “hold” rating in a research note on Monday, April 22nd. Finally, Citigroup boosted their price objective on shares of Biogen from $372.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 30th.
In other news, Director Robert W. Pangia sold 6,114 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the transaction, the director now owns 24,701 shares in the company, valued at $8,115,513.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander J. Denner acquired 118,342 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $229.94 per share, for a total transaction of $27,211,559.48. Following the acquisition, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $2,508,415.46. The disclosure for this purchase can be found here. Insiders have acquired 173,035 shares of company stock worth $39,759,632 in the last ninety days. Insiders own 0.29% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BIIB. Boston Advisors LLC raised its holdings in shares of Biogen by 2.9% during the fourth quarter. Boston Advisors LLC now owns 1,091 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 31 shares during the period. BTIM Corp. raised its holdings in shares of Biogen by 132.0% during the fourth quarter. BTIM Corp. now owns 6,054 shares of the biotechnology company’s stock valued at $1,822,000 after purchasing an additional 3,445 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Biogen by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 534 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 42 shares during the period. Landsberg Bennett & Dubbaneh LLC acquired a new stake in shares of Biogen in the 4th quarter worth about $251,000. Finally, Baxter Bros Inc. raised its holdings in shares of Biogen by 5.6% in the 4th quarter. Baxter Bros Inc. now owns 1,029 shares of the biotechnology company’s stock worth $310,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.
Shares of NASDAQ:BIIB traded up $1.53 during trading on Monday, hitting $230.81. 48,335 shares of the company were exchanged, compared to its average volume of 2,015,039. The company has a market capitalization of $44.46 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 0.91 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.60 and a current ratio of 2.84. Biogen has a 1-year low of $216.12 and a 1-year high of $388.67.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.10. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.38 billion. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $6.05 earnings per share. On average, equities analysts forecast that Biogen will post 29.58 EPS for the current fiscal year.
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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