Biogen Inc. (BIIB) Coverage Initiated at SunTrust Banks, Inc.
SunTrust Banks, Inc. started coverage on shares of Biogen Inc. (NASDAQ:BIIB) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $360.00 price objective on the biotechnology company’s stock. SunTrust Banks also issued estimates for Biogen’s Q3 2017 earnings at $5.79 EPS, Q4 2017 earnings at $5.75 EPS, FY2017 earnings at $21.78 EPS, Q1 2018 earnings at $5.70 EPS, Q2 2018 earnings at $5.95 EPS, Q3 2018 earnings at $6.11 EPS, Q4 2018 earnings at $6.24 EPS, FY2018 earnings at $24.00 EPS, FY2019 earnings at $26.00 EPS, FY2020 earnings at $28.30 EPS and FY2021 earnings at $30.00 EPS.
Several other research firms have also recently commented on BIIB. BMO Capital Markets boosted their target price on Biogen from $328.00 to $377.00 and gave the company a market perform rating in a research note on Wednesday, September 13th. Mizuho restated a neutral rating and issued a $319.00 target price (up previously from $274.00) on shares of Biogen in a research note on Wednesday, September 13th. Vetr upgraded Biogen from a hold rating to a buy rating and set a $346.83 target price on the stock in a research note on Thursday, September 7th. Royal Bank Of Canada began coverage on Biogen in a research note on Thursday, September 14th. They issued a sector perform rating and a $319.00 target price on the stock. Finally, ValuEngine cut Biogen from a buy rating to a hold rating in a research note on Friday, September 1st. Fourteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $328.16.
Biogen (BIIB) opened at 318.46 on Wednesday. The company’s 50-day moving average is $300.47 and its 200 day moving average is $278.47. The company has a market cap of $67.33 billion, a price-to-earnings ratio of 20.90 and a beta of 0.77. Biogen has a 12 month low of $244.28 and a 12 month high of $330.00.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.21 EPS. Equities analysts forecast that Biogen will post $21.51 earnings per share for the current fiscal year.
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In other news, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the sale, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Botty Investors LLC boosted its stake in Biogen by 75.0% in the second quarter. Botty Investors LLC now owns 11,232 shares of the biotechnology company’s stock valued at $3,048,000 after buying an additional 4,812 shares in the last quarter. Savant Capital LLC boosted its stake in Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares in the last quarter. BB&T Securities LLC boosted its stake in Biogen by 25.0% in the second quarter. BB&T Securities LLC now owns 12,989 shares of the biotechnology company’s stock valued at $3,524,000 after buying an additional 2,598 shares in the last quarter. Vanguard Group Inc. boosted its stake in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Biogen in the first quarter valued at about $26,224,000. 87.65% of the stock is currently owned by institutional investors.
Biogen Company Profile
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).
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