Shares of Biogen Inc (NASDAQ:BIIB) have earned an average rating of “Hold” from the thirty-five brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, twenty-four have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $271.33.
Several brokerages have issued reports on BIIB. Wedbush set a $190.00 price objective on shares of Home Depot and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from C$56.00 to C$55.00 in a research report on Wednesday, April 24th. Barclays reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday, May 9th. BTIG Research lowered shares of Biogen from a “buy” rating to a “neutral” rating in a research report on Thursday, March 21st. Finally, Goldman Sachs Group set a €76.00 ($88.37) target price on shares of Symrise and gave the stock a “neutral” rating in a research report on Thursday, March 21st.
NASDAQ BIIB traded down $0.18 during trading on Tuesday, hitting $231.42. The stock had a trading volume of 1,248,640 shares, compared to its average volume of 1,673,542. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. The stock has a market cap of $44.87 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. Biogen has a one year low of $216.12 and a one year high of $388.67. The firm’s 50 day moving average price is $231.14.
In other Biogen news, CEO Michel Vounatsos acquired 4,351 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $231.48 per share, with a total value of $1,007,169.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander J. Denner acquired 50,342 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $229.25 per share, for a total transaction of $11,540,903.50. Following the completion of the acquisition, the director now owns 10,909 shares of the company’s stock, valued at $2,500,888.25. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 173,035 shares of company stock worth $39,759,632. 0.39% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Weaver Consulting Group acquired a new stake in Biogen in the first quarter valued at approximately $28,000. Accident Compensation Corp acquired a new stake in Biogen in the first quarter valued at approximately $284,000. Piedmont Investment Advisors Inc. boosted its stake in Biogen by 41.5% in the first quarter. Piedmont Investment Advisors Inc. now owns 23,763 shares of the biotechnology company’s stock valued at $5,617,000 after acquiring an additional 6,966 shares in the last quarter. Fosun International Ltd boosted its stake in Biogen by 20.0% in the first quarter. Fosun International Ltd now owns 2,400 shares of the biotechnology company’s stock valued at $559,000 after acquiring an additional 400 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Biogen by 22.9% in the first quarter. Nordea Investment Management AB now owns 523,236 shares of the biotechnology company’s stock valued at $123,682,000 after acquiring an additional 97,622 shares in the last quarter. Institutional investors own 87.55% of the company’s stock.
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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