Shares of Biogen Inc. (NASDAQ:BIIB – Get Free Report) have earned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $330.19.
A number of brokerages have commented on BIIB. Mizuho boosted their price objective on Biogen from $315.00 to $340.00 in a report on Wednesday, May 3rd. BMO Capital Markets decreased their price objective on Biogen from $380.00 to $357.00 in a report on Tuesday, July 18th. Wedbush boosted their price objective on Biogen from $249.00 to $263.00 and gave the stock a “neutral” rating in a report on Monday, April 17th. StockNews.com began coverage on Biogen in a report on Thursday, May 18th. They set a “strong-buy” rating for the company. Finally, Barclays decreased their price objective on Biogen from $307.00 to $302.00 in a report on Wednesday, April 26th.
Insider Buying and Selling at Biogen
In other Biogen news, EVP Ginger Gregory sold 2,681 shares of the stock in a transaction on Friday, April 28th. The stock was sold at an average price of $300.00, for a total transaction of $804,300.00. Following the sale, the executive vice president now owns 8,483 shares in the company, valued at $2,544,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Biogen
A number of institutional investors and hedge funds have recently made changes to their positions in BIIB. Altshuler Shaham Ltd purchased a new stake in shares of Biogen in the fourth quarter worth $25,000. James Investment Research Inc. bought a new stake in shares of Biogen in the fourth quarter worth about $28,000. Delta Asset Management LLC TN bought a new stake in shares of Biogen in the fourth quarter worth about $28,000. Concord Wealth Partners bought a new stake in shares of Biogen in the fourth quarter worth about $32,000. Finally, New England Capital Financial Advisors LLC purchased a new stake in Biogen in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 86.35% of the company’s stock.
Biogen Stock Up 0.7 %
BIIB stock opened at $276.74 on Friday. The stock’s 50 day simple moving average is $293.13 and its 200 day simple moving average is $286.68. Biogen has a fifty-two week low of $193.65 and a fifty-two week high of $319.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.81 and a current ratio of 3.24. The company has a market cap of $40.06 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 2.30 and a beta of 0.17.
Biogen (NASDAQ:BIIB – Get Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The biotechnology company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.15. Biogen had a return on equity of 19.60% and a net margin of 30.99%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the business earned $3.62 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts expect that Biogen will post 15.39 earnings per share for the current fiscal year.
About Biogen
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 offers 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.
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