Robert W. Baird reaffirmed their sell rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Thursday, January 23rd, Stock Target Advisor reports. Robert W. Baird currently has a $250.00 target price on the biotechnology company’s stock.
Several other equities research analysts have also recently commented on BIIB. Svb Leerink upgraded Biogen from a market perform rating to an outperform rating and upped their price target for the stock from $256.00 to $350.00 in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on shares of Biogen from $236.00 to $296.00 and gave the company a hold rating in a research note on Tuesday, October 22nd. BMO Capital Markets raised their target price on shares of Biogen from $250.00 to $297.00 and gave the stock a market perform rating in a research note on Wednesday, October 23rd. HC Wainwright reaffirmed a buy rating and issued a $335.00 target price on shares of Biogen in a report on Friday, December 6th. Finally, ValuEngine upgraded shares of Biogen from a sell rating to a hold rating in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have issued a buy rating to the company’s stock. Biogen currently has a consensus rating of Hold and an average price target of $316.69.
Shares of Biogen stock opened at $338.70 on Thursday. Biogen has a 1 year low of $215.77 and a 1 year high of $374.99. The company has a market capitalization of $58.96 billion, a P/E ratio of 10.07, a PEG ratio of 1.13 and a beta of 1.21. The company’s fifty day moving average is $292.64 and its two-hundred day moving average is $264.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.72.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, January 30th. The biotechnology company reported $8.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.02 by $0.32. Biogen had a return on equity of 46.51% and a net margin of 40.96%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the company posted $6.99 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts expect that Biogen will post 32.5 earnings per share for the current year.
Biogen announced that its board has authorized a stock buyback plan on Saturday, December 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
In other news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $292.35, for a total transaction of $308,429.25. Following the completion of the transaction, the director now owns 6,995 shares of the company’s stock, valued at approximately $2,044,988.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.39% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of BIIB. Assenagon Asset Management S.A. grew its holdings in shares of Biogen by 1,345.3% during the third quarter. Assenagon Asset Management S.A. now owns 674,932 shares of the biotechnology company’s stock worth $157,138,000 after purchasing an additional 628,233 shares during the last quarter. Banco Santander S.A. increased its stake in shares of Biogen by 10,997.3% in the 3rd quarter. Banco Santander S.A. now owns 342,795 shares of the biotechnology company’s stock valued at $79,809,000 after buying an additional 339,706 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Biogen by 272.1% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 400,581 shares of the biotechnology company’s stock worth $118,864,000 after acquiring an additional 292,927 shares during the last quarter. Man Group plc lifted its stake in shares of Biogen by 47.0% during the third quarter. Man Group plc now owns 694,842 shares of the biotechnology company’s stock valued at $161,773,000 after acquiring an additional 222,250 shares during the period. Finally, Nomura Holdings Inc. boosted its holdings in Biogen by 276.3% in the third quarter. Nomura Holdings Inc. now owns 215,987 shares of the biotechnology company’s stock valued at $49,532,000 after acquiring an additional 158,593 shares during the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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