BidaskClub Upgrades Biogen (BIIB) to Buy

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

A number of other analysts have also recently commented on BIIB. Cantor Fitzgerald reissued a buy rating and issued a $400.00 price target on shares of Biogen in a research report on Wednesday. ValuEngine cut Biogen from a hold rating to a sell rating in a research report on Friday, October 12th. Raymond James reissued a buy rating on shares of Biogen in a research report on Wednesday, October 3rd. Sanford C. Bernstein cut Biogen from an outperform rating to a market perform rating and dropped their price target for the stock from $373.00 to $341.00 in a research report on Friday, October 19th. Finally, Leerink Swann set a $340.00 price target on Biogen and gave the stock a hold rating in a research report on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $382.58.

Biogen stock opened at $314.55 on Thursday. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. Biogen has a fifty-two week low of $249.17 and a fifty-two week high of $388.67. The company has a market cap of $63.38 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.21 and a beta of 0.95.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, topping analysts’ consensus estimates of $6.78 by $0.62. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The firm had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the firm posted $6.31 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Biogen will post 25.87 earnings per share for the current year.

In related news, EVP Michael D. Ehlers sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in Biogen by 6.5% during the 3rd quarter. AQR Capital Management LLC now owns 3,024,037 shares of the biotechnology company’s stock valued at $1,068,422,000 after buying an additional 183,542 shares during the last quarter. Northern Trust Corp raised its stake in Biogen by 0.7% during the 2nd quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock valued at $839,536,000 after buying an additional 19,730 shares during the last quarter. Capital World Investors raised its stake in Biogen by 503.2% during the 3rd quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock valued at $873,986,000 after buying an additional 2,063,598 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Biogen by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock valued at $685,588,000 after buying an additional 72,668 shares during the last quarter. Finally, Jackson Square Partners LLC raised its stake in Biogen by 5.7% during the 3rd quarter. Jackson Square Partners LLC now owns 2,241,778 shares of the biotechnology company’s stock valued at $792,042,000 after buying an additional 121,072 shares during the last quarter. Institutional investors own 86.97% of the company’s stock.

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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