Biogen (NASDAQ:BIIB) has earned an average recommendation of “Buy” from the thirty-three analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and twenty-one have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $370.38.
A number of research firms have recently weighed in on BIIB. Credit Suisse Group set a $384.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday. Sanford C. Bernstein set a $318.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 10th. Mizuho set a $433.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Wednesday, April 11th. Canaccord Genuity set a $350.00 target price on shares of Biogen and gave the stock a “hold” rating in a report on Monday, April 9th. Finally, BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, January 5th.
In other Biogen news, EVP Alfred Sandrock sold 259 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the sale, the executive vice president now directly owns 6,553 shares in the company, valued at $1,905,808.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,296 shares of company stock valued at $678,993 over the last 90 days. 0.25% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BIIB. Alliancebernstein L.P. increased its stake in shares of Biogen by 27.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock valued at $1,087,812,000 after purchasing an additional 727,007 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of Biogen by 426.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 245,830 shares of the biotechnology company’s stock valued at $78,314,000 after purchasing an additional 199,140 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Biogen by 91.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 291,276 shares of the biotechnology company’s stock valued at $92,792,000 after purchasing an additional 139,529 shares in the last quarter. Smith Asset Management Group LP increased its stake in shares of Biogen by 164.8% during the fourth quarter. Smith Asset Management Group LP now owns 223,079 shares of the biotechnology company’s stock valued at $71,177,000 after purchasing an additional 138,832 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Biogen by 66.9% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 260,090 shares of the biotechnology company’s stock valued at $82,857,000 after purchasing an additional 104,237 shares in the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.
NASDAQ BIIB opened at $264.75 on Friday. 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 12-month low of $244.28 and a 12-month high of $370.57. The stock has a market cap of $55,664.26, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.18). The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Biogen had a net margin of 20.69% and a return on equity of 38.32%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.04 earnings per share. sell-side analysts predict that Biogen will post 24.78 earnings per share for the current fiscal year.
WARNING: “Analysts Set Biogen (BIIB) PT at $370.38” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://ledgergazette.com/2018/04/18/analysts-set-biogen-biib-pt-at-370-38.html.
Biogen Company Profile
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.
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.