Oppenheimer Reiterates “$350.00” Price Target for Biogen (BIIB)
BIIB has been the subject of a number of other reports. Mizuho set a $400.00 price target on Biogen and gave the company a buy rating in a report on Monday, November 13th. Goldman Sachs Group upgraded Biogen from a buy rating to a conviction-buy rating and set a $338.00 price target for the company in a report on Wednesday, August 16th. Vetr downgraded Biogen from a buy rating to a hold rating and set a $316.82 price target for the company. in a report on Monday, September 4th. Morgan Stanley upgraded Biogen from an equal weight rating to an overweight rating and boosted their price target for the company from $311.00 to $375.00 in a report on Thursday, October 5th. Finally, ValuEngine downgraded Biogen from a buy rating to a hold rating in a research note on Friday, September 1st. Twelve equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $344.60.
Shares of Biogen (NASDAQ BIIB) opened at $314.66 on Monday. Biogen has a twelve month low of $244.28 and a twelve month high of $348.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. The firm has a market capitalization of $67,122.77, a P/E ratio of 14.70, a PEG ratio of 1.98 and a beta of 0.73.
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 Zacks’ consensus estimate of $5.70 by $0.61. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the business earned $5.19 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. sell-side analysts predict that Biogen will post 22.03 earnings per share for the current fiscal year.
In other Biogen news, Director Alexander J. Denner purchased 30,000 shares of Biogen stock in a transaction on Wednesday, November 29th. The stock was bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. 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 buying an additional 50 shares during the period. Horan Capital Advisors LLC. acquired a new stake in shares of Biogen in the third quarter valued at $128,000. Atlantic Trust LLC acquired a new stake in shares of Biogen in the second quarter valued at $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 buying an additional 195 shares during the period. 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 buying an additional 219 shares during the period. Institutional investors own 88.30% of the company’s stock.
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Biogen Company Profile
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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