Biogen Inc. (BIIB) Receives “Buy” Rating from HC Wainwright
HC Wainwright reissued their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report released on Tuesday morning. The firm currently has a $360.00 target price on the biotechnology company’s stock.
A number of other equities analysts have also recently commented on the company. Morgan Stanley restated a buy rating on shares of Biogen in a report on Thursday, June 30th. Sanford C. Bernstein started coverage on Biogen in a report on Wednesday, June 29th. They set an outperform rating and a $282.00 target price for the company. Vetr upgraded Biogen from a buy rating to a strong-buy rating and set a $346.47 target price for the company in a report on Monday, September 12th. Citigroup Inc. cut Biogen from a buy rating to a neutral rating and lowered their target price for the company from $345.00 to $295.00 in a report on Tuesday, June 7th. Finally, Piper Jaffray Cos. restated a neutral rating and set a $333.00 target price (up from $293.00) on shares of Biogen in a report on Tuesday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $346.22.
Biogen (NASDAQ:BIIB) opened at 308.8526 on Tuesday. The firm has a market cap of $67.68 billion, a P/E ratio of 18.0415 and a beta of 0.90. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The stock’s 50 day moving average is $310.32 and its 200 day moving average is $274.85.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.52. The firm earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $4.22 EPS. On average, equities research analysts expect that Biogen will post $20.10 EPS for the current year.
In other Biogen news, CEO George A. Scangos sold 157 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the sale, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Davis R M Inc. increased its stake in Biogen by 18.8% in the first quarter. Davis R M Inc. now owns 1,835 shares of the biotechnology company’s stock worth $478,000 after buying an additional 291 shares during the last quarter. Country Trust Bank increased its stake in Biogen by 222.7% in the first quarter. Country Trust Bank now owns 76,441 shares of the biotechnology company’s stock worth $19,899,000 after buying an additional 52,753 shares during the last quarter. Rhenman & Partners Asset Management AB purchased a new stake in Biogen during the first quarter worth approximately $9,892,000. Moreno Evelyn V purchased a new stake in Biogen during the first quarter worth approximately $359,000. Finally, UMB Bank N A MO increased its stake in Biogen by 16.1% in the first quarter. UMB Bank N A MO now owns 7,737 shares of the biotechnology company’s stock worth $2,014,000 after buying an additional 1,075 shares during the last quarter. Institutional investors own 86.21% of the company’s stock.
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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