Brokerages Set Biogen (BIIB) PT at $370.38

Shares of Biogen (NASDAQ:BIIB) have been given an average rating of “Buy” by the thirty-three research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $370.38.

Several equities analysts recently weighed in on the company. Credit Suisse Group set a $384.00 price target on Biogen and gave the company a “buy” rating in a research note on Tuesday. Sanford C. Bernstein set a $318.00 price target on Biogen and gave the company a “buy” rating in a research note on Tuesday, April 10th. Canaccord Genuity set a $350.00 price target on Biogen and gave the company a “hold” rating in a research note on Monday, April 9th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th. Finally, Jefferies Group restated a “hold” rating on shares of Biogen in a report on Friday, January 26th.

How to Become a New Pot Stock Millionaire

Shares of BIIB stock traded down $1.13 on Friday, hitting $264.89. The company had a trading volume of 534,683 shares, compared to its average volume of 1,645,210. The stock has a market cap of $56,705.15, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company has a quick ratio of 2.07, a current ratio of 2.34 and a debt-to-equity ratio of 0.47. Biogen has a twelve month low of $244.28 and a twelve month high of $370.57.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm earned $5.04 EPS. Biogen’s revenue for the quarter was up 15.1% on a year-over-year basis. sell-side analysts anticipate that Biogen will post 24.77 earnings per share for the current fiscal year.

In other news, EVP Alfred Sandrock sold 1,294 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $298.85, for a total transaction of $386,711.90. Following the sale, the executive vice president now owns 7,296 shares of the company’s stock, valued at $2,180,409.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 2,296 shares of company stock worth $678,993 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in Biogen in the fourth quarter valued at $29,896,000. Xact Kapitalforvaltning AB grew its holdings in shares of Biogen by 9.1% during the fourth quarter. Xact Kapitalforvaltning AB now owns 44,104 shares of the biotechnology company’s stock worth $14,050,000 after purchasing an additional 3,684 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Biogen by 3.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 59,911 shares of the biotechnology company’s stock worth $19,086,000 after purchasing an additional 2,246 shares during the last quarter. CNB Bank purchased a new position in shares of Biogen during the fourth quarter worth about $398,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Biogen by 32.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 160,230 shares of the biotechnology company’s stock worth $51,044,000 after purchasing an additional 39,136 shares during the last quarter. 88.92% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This report was posted by Week Herald and is the sole property of of Week Herald. If you are viewing this report on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The original version of this report can be read at https://weekherald.com/2018/04/20/brokerages-set-biogen-biib-pt-at-370-38.html.

About Biogen

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

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply