Canaccord Genuity set a $340.00 price objective on Biogen (NASDAQ:BIIB) in a research note published on Friday. The firm currently has a hold rating on the biotechnology company’s stock.

A number of other research firms also recently commented on BIIB. Bank of America upped their price objective on Biogen from $358.00 to $365.00 and gave the company a buy rating in a report on Wednesday, October 18th. Mizuho set a $400.00 price objective on Biogen and gave the company a buy rating in a report on Friday. BidaskClub upgraded Biogen from a hold rating to a buy rating in a report on Friday. Citigroup downgraded Biogen from a buy rating to a neutral rating in a report on Monday, October 23rd. Finally, Piper Jaffray Companies restated an overweight rating and issued a $390.00 price target on shares of Biogen in a report on Monday, October 23rd. Ten analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $350.13.

Shares of Biogen (NASDAQ:BIIB) opened at $329.65 on Friday. The company has a market capitalization of $69,710.00, a PE ratio of 20.21, a P/E/G ratio of 1.97 and a beta of 0.73. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. Biogen has a fifty-two week low of $244.28 and a fifty-two week high of $348.84.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.61. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.19 earnings per share. equities analysts expect that Biogen will post 22 EPS for the current fiscal year.

In other news, Director Alexander J. Denner acquired 30,000 shares of Biogen stock in a transaction dated Wednesday, November 29th. The stock was bought at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michel Vounatsos acquired 780 shares of Biogen stock in a transaction dated Saturday, December 29th. The shares were purchased at an average cost of $320.55 per share, with a total value of $250,029.00. Following the completion of the transaction, the chief executive officer now directly owns 4,879 shares of the company’s stock, valued at $1,563,963.45. The disclosure for this purchase can be found here. Insiders have bought 31,560 shares of company stock valued at $10,020,858 over the last ninety days. 0.25% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Biogen by 2.3% during the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock valued at $4,913,612,000 after purchasing an additional 415,099 shares during the last quarter. Vanguard Group Inc. boosted its position in Biogen by 1.3% during the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock valued at $3,944,171,000 after purchasing an additional 182,337 shares during the last quarter. State Street Corp boosted its position in Biogen by 1.5% during the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock valued at $2,637,973,000 after purchasing an additional 140,929 shares during the last quarter. FMR LLC boosted its position in Biogen by 10.1% during the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock valued at $1,656,390,000 after purchasing an additional 561,436 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Biogen by 8.0% during the second quarter. Northern Trust Corp now owns 3,017,136 shares of the biotechnology company’s stock valued at $818,731,000 after purchasing an additional 223,371 shares during the last quarter. 88.11% of the stock is owned by institutional investors.

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About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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