Biogen (NASDAQ:BIIB)‘s stock had its “hold” rating reaffirmed by equities research analysts at Canaccord Genuity in a report released on Wednesday, February 7th. They presently have a $350.00 price objective on the biotechnology company’s stock. Canaccord Genuity’s price target suggests a potential upside of 18.21% from the stock’s previous close.
Several other research analysts have also recently commented on the company. Mizuho reissued a “buy” rating and set a $433.00 price target (up from $400.00) on shares of Biogen in a research report on Sunday, February 4th. UBS Group raised Biogen from a “neutral” rating to a “buy” rating and increased their price target for the company from $352.59 to $410.00 in a research report on Wednesday, January 31st. Oppenheimer upped their price objective on Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Deutsche Bank restated a “buy” rating and issued a $373.00 price objective on shares of Biogen in a research note on Friday, January 26th. Finally, Jefferies Group restated a “hold” rating on shares of Biogen in a research note on Friday, January 26th. Nine investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $368.99.
Shares of Biogen (BIIB) traded down $20.91 during midday trading on Wednesday, reaching $296.08. The company had a trading volume of 5,426,200 shares, compared to its average volume of 1,433,558. Biogen has a 1 year low of $244.28 and a 1 year high of $370.57. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $62,610.00, a PE ratio of 16.75, a PEG ratio of 1.65 and a beta of 0.75.
In other news, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the purchase, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Pangia sold 5,832 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. In the last quarter, insiders have bought 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of BIIB. Caxton Associates LP increased its stake in Biogen by 25.0% during the 2nd quarter. Caxton Associates LP now owns 1,500 shares of the biotechnology company’s stock worth $407,000 after acquiring an additional 300 shares during the period. Linscomb & Williams Inc. increased its stake in Biogen by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock worth $327,000 after acquiring an additional 29 shares during the period. Chiron Investment Management LLC bought a new position in Biogen during the 2nd quarter worth $7,869,000. Cypress Capital Group bought a new position in Biogen during the 2nd quarter worth $209,000. Finally, Intellectus Partners LLC increased its stake in Biogen by 13.4% during the 2nd quarter. Intellectus Partners LLC now owns 1,409 shares of the biotechnology company’s stock worth $382,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 87.79% of the company’s stock.
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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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