Oppenheimer Reiterates “Outperform” Rating for Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a research note issued on Monday, Benzinga reports. They currently have a $270.00 price objective on the biotechnology company’s stock. Oppenheimer’s price objective indicates a potential upside of 25.69% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Mizuho lowered their price objective on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and set a $294.00 price target on shares of Biogen in a report on Wednesday, April 24th. Bank Of America (Bofa) cut their price objective on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. HC Wainwright lowered their target price on Biogen from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Wells Fargo & Company cut Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and an average price target of $293.88.

Biogen Trading Down 0.3 %

BIIB stock opened at $214.82 on Monday. The company has a market capitalization of $31.28 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.13 and a beta of -0.02. The company’s 50 day moving average price is $212.40 and its two-hundred day moving average price is $232.69. Biogen has a one year low of $189.44 and a one year high of $319.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.40 earnings per share. As a group, analysts predict that Biogen will post 15.57 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 882 shares of company stock worth $202,030 over the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently bought and sold shares of BIIB. Livelsberger Financial Advisory acquired a new stake in shares of Biogen in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in Biogen in the 3rd quarter valued at about $26,000. Gladius Capital Management LP acquired a new position in shares of Biogen during the 3rd quarter worth approximately $28,000. Hexagon Capital Partners LLC boosted its holdings in shares of Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. Finally, KB Financial Partners LLC grew its position in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. 87.93% 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 in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.