Biogen (NASDAQ:BIIB) has been assigned a $350.00 target price by Oppenheimer in a research note issued on Monday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s price target would suggest a potential upside of 9.42% from the company’s previous close.
BIIB has been the subject of several other research reports. Mizuho set a $400.00 price target on Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Goldman Sachs Group raised Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target for the company in a research note on Wednesday, August 16th. Vetr cut Biogen from a “buy” rating to a “hold” rating and set a $316.82 price target for the company. in a research note on Monday, September 4th. Morgan Stanley raised Biogen from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Finally, ValuEngine cut Biogen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $344.60.
Shares of Biogen (NASDAQ:BIIB) opened at $319.87 on Monday. The firm has a market capitalization of $67,810.00, a PE ratio of 14.79, a PEG ratio of 1.99 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen has a one year low of $244.28 and a one year high of $348.84.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.19 earnings per share. sell-side analysts expect that Biogen will post 22.03 EPS for the current year.
In related news, Director Alexander J. Denner bought 30,000 shares of the company’s 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 acquisition, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Prentiss Smith & Co. Inc. lifted its holdings in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in shares of Biogen in the third quarter valued at approximately $128,000. Atlantic Trust LLC bought a new position in shares of Biogen in the second quarter valued at approximately $114,000. Massey Quick Simon & CO. LLC lifted its holdings in shares of Biogen by 84.8% in the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. lifted its holdings in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 88.30% 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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