Biogen Inc. (NASDAQ:BIIB) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $347.12 and last traded at $347.29, with a volume of 917,581 shares trading hands. The stock had previously closed at $335.68.

A number of research analysts have commented on the company. UBS AG upgraded Biogen from a “sell” rating to a “neutral” rating and boosted their target price for the company from $262.00 to $270.00 in a research note on Monday, June 19th. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price on the stock in a research note on Thursday, August 10th. Stifel Nicolaus restated a “hold” rating and issued a $300.00 target price on shares of Biogen in a research note on Thursday, October 12th. Cowen and Company restated a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. Finally, Mizuho upgraded Biogen from a “neutral” rating to a “buy” rating and boosted their target price for the company from $319.00 to $400.00 in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Biogen presently has an average rating of “Buy” and a consensus target price of $339.66.

The firm’s 50 day moving average is $319.52 and its 200-day moving average is $283.51. The company has a market cap of $73.43 billion, a P/E ratio of 22.79 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $5.21 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Biogen Inc. will post $21.57 earnings per share for the current year.

In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Beacon Trust Co. raised its position in Biogen by 0.5% during the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after purchasing an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Biogen by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 6 shares in the last quarter. Carroll Financial Associates Inc. raised its position in Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 6 shares in the last quarter. Buckingham Capital Management Inc. raised its position in Biogen by 0.3% during the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after purchasing an additional 8 shares in the last quarter. Finally, RMB Capital Management LLC raised its position in Biogen by 1.1% during the first quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock valued at $223,000 after purchasing an additional 9 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

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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).

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