Biogen (BIIB) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Biogen (NASDAQ:BIIB) from a hold rating to a buy rating in a report released on Friday morning.

A number of other equities analysts have also recently issued reports on BIIB. ValuEngine cut shares of Biogen from a hold rating to a sell rating in a research note on Friday. Canaccord Genuity set a $335.00 price objective on shares of Biogen and gave the company a buy rating in a research note on Friday, July 6th. HC Wainwright reaffirmed a buy rating on shares of Biogen in a research note on Monday, July 9th. Nomura reaffirmed a buy rating and issued a $420.00 price objective on shares of Biogen in a research note on Friday, July 6th. Finally, Oppenheimer set a $400.00 price objective on shares of Biogen and gave the company a buy rating in a research note on Sunday, July 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $381.31.

BIIB stock traded up $3.67 during midday trading on Friday, reaching $330.94. The company’s stock had a trading volume of 1,022,669 shares, compared to its average volume of 1,633,890. Biogen has a 52 week low of $249.17 and a 52 week high of $388.67. The stock has a market cap of $71.17 billion, a PE ratio of 15.17, a PEG ratio of 1.36 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.22 by $0.58. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period last year, the firm earned $5.04 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Biogen will post 25.34 earnings per share for the current fiscal year.

In other news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Broadleaf Partners LLC lifted its position in Biogen by 23.6% in the 3rd quarter. Broadleaf Partners LLC now owns 9,932 shares of the biotechnology company’s stock valued at $3,509,000 after acquiring an additional 1,899 shares in the last quarter. Bank of Montreal Can lifted its position in Biogen by 8.6% in the 3rd quarter. Bank of Montreal Can now owns 237,686 shares of the biotechnology company’s stock valued at $83,974,000 after acquiring an additional 18,744 shares in the last quarter. Busey Trust CO lifted its position in Biogen by 2.2% in the 3rd quarter. Busey Trust CO now owns 17,796 shares of the biotechnology company’s stock valued at $6,287,000 after acquiring an additional 386 shares in the last quarter. Rathbone Brothers plc lifted its position in Biogen by 269.4% in the 3rd quarter. Rathbone Brothers plc now owns 2,708 shares of the biotechnology company’s stock valued at $957,000 after acquiring an additional 1,975 shares in the last quarter. Finally, Retirement Capital Strategies bought a new stake in Biogen in the 3rd quarter valued at $488,000. 87.46% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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