Biogen (NASDAQ:BIIB) Now Covered by Needham & Company LLC

Investment analysts at Needham & Company LLC began coverage on shares of Biogen (NASDAQ:BIIB) in a research report issued to clients and investors on Wednesday, Analyst Price Targets reports. The brokerage set a “buy” rating and a $400.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 36.43% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. TheStreet raised shares of Biogen from a “c+” rating to a “b” rating in a research note on Tuesday, June 8th. Robert W. Baird set a $358.16 price target on shares of Biogen and gave the stock a “hold” rating in a research note on Sunday, July 11th. Mizuho raised their price target on shares of Biogen from $244.00 to $300.00 and gave the stock a “neutral” rating in a research note on Monday, August 2nd. Evercore ISI set a $324.62 price target on shares of Biogen and gave the stock a “buy” rating in a research note on Monday, July 19th. Finally, raised shares of Biogen from a “sell” rating to a “neutral” rating and raised their price target for the stock from $200.00 to $440.00 in a research note on Tuesday, June 8th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Biogen currently has an average rating of “Buy” and an average target price of $395.26.

Shares of BIIB stock opened at $293.20 on Wednesday. The stock has a market cap of $43.70 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.54 and a beta of 0.41. Biogen has a 12 month low of $223.25 and a 12 month high of $468.55. The company has a 50 day simple moving average of $327.44 and a two-hundred day simple moving average of $310.36. The company has a current ratio of 2.15, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 21st. The biotechnology company reported $5.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.55 by $1.13. Biogen had a net margin of 16.40% and a return on equity of 34.74%. The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the firm posted $10.26 earnings per share. The business’s revenue for the quarter was down 24.6% on a year-over-year basis. As a group, equities analysts forecast that Biogen will post 18.67 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. Sphera Funds Management LTD. purchased a new stake in Biogen in the 1st quarter worth $1,902,000. Bank Pictet & Cie Asia Ltd. increased its stake in Biogen by 50.2% during the first quarter. Bank Pictet & Cie Asia Ltd. now owns 4,716 shares of the biotechnology company’s stock worth $1,319,000 after purchasing an additional 1,577 shares during the period. Blair William & Co. IL increased its stake in Biogen by 3.4% during the first quarter. Blair William & Co. IL now owns 10,316 shares of the biotechnology company’s stock worth $2,886,000 after purchasing an additional 344 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Biogen by 4.3% during the first quarter. Public Employees Retirement System of Ohio now owns 97,459 shares of the biotechnology company’s stock worth $27,264,000 after buying an additional 3,978 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Biogen during the first quarter worth approximately $4,278,000. 83.18% of the stock is owned by institutional investors.

Biogen Company Profile

Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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