Stifel Nicolaus reiterated their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research note released on Friday.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Other equities research analysts have also recently issued research reports about the stock. Jefferies Group restated a buy rating on shares of Biogen in a research report on Sunday, May 29th. Vetr cut shares of Biogen from a hold rating to a sell rating and set a $265.77 price objective on the stock. in a research report on Monday, July 25th. BMO Capital Markets boosted their price objective on shares of Biogen from $286.00 to $304.00 and gave the company a market perform rating in a research report on Monday, August 1st. Piper Jaffray Cos. reiterated a neutral rating on shares of Biogen in a research report on Wednesday, August 3rd. Finally, Robert W. Baird reiterated a positive rating and set a $284.00 price objective (up previously from $268.00) on shares of Biogen in a research report on Monday, August 1st. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Biogen has a consensus rating of Buy and an average target price of $346.22.

Biogen (NASDAQ:BIIB) opened at 312.00 on Friday. The stock has a market capitalization of $68.37 billion, a PE ratio of 18.23 and a beta of 0.90. The company’s 50-day moving average is $309.80 and its 200-day moving average is $275.12. Biogen has a 12 month low of $223.02 and a 12 month high of $333.65.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the business posted $4.22 earnings per share. Biogen’s quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Biogen will post $20.10 EPS for the current year.

In other Biogen news, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total value of $43,960.00. Following the transaction, the chief executive officer now owns 54,779 shares in the company, valued at approximately $15,338,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Buckingham Asset Management LLC raised its position in shares of Biogen by 1.8% in the second quarter. Buckingham Asset Management LLC now owns 865 shares of the biotechnology company’s stock worth $209,000 after buying an additional 15 shares during the last quarter. Choate Investment Advisors raised its position in shares of Biogen by 1.3% in the second quarter. Choate Investment Advisors now owns 1,473 shares of the biotechnology company’s stock worth $356,000 after buying an additional 19 shares during the last quarter. Wetherby Asset Management Inc. raised its position in shares of Biogen by 0.8% in the second quarter. Wetherby Asset Management Inc. now owns 2,911 shares of the biotechnology company’s stock worth $704,000 after buying an additional 23 shares during the last quarter. Bremer Trust National Association raised its position in shares of Biogen by 1.8% in the second quarter. Bremer Trust National Association now owns 1,384 shares of the biotechnology company’s stock worth $335,000 after buying an additional 25 shares during the last quarter. Finally, Rathbone Brothers plc raised its position in shares of Biogen by 1.8% in the second quarter. Rathbone Brothers plc now owns 1,402 shares of the biotechnology company’s stock worth $339,000 after buying an additional 25 shares during the last quarter. Institutional investors own 86.21% of the company’s stock.

Biogen Company Profile

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.

5 Day Chart for NASDAQ:BIIB

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