Biogen Inc. (BIIB) Rating Reiterated by Leerink Swann
Leerink Swann reissued their market perform rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report released on Wednesday morning, The Fly reports. They currently have a $338.00 price objective on the biotechnology company’s stock, up from their prior price objective of $304.00. Leerink Swann also issued estimates for Biogen’s Q3 2017 earnings at $6.16 EPS, Q4 2017 earnings at $5.93 EPS, FY2017 earnings at $22.31 EPS, FY2018 earnings at $24.14 EPS, FY2019 earnings at $25.41 EPS, FY2020 earnings at $26.29 EPS and FY2021 earnings at $25.76 EPS.
A number of other analysts have also weighed in on BIIB. UBS AG upgraded Biogen from a sell rating to a neutral rating and increased their target price for the stock 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 $306.48 target price on the stock in a research note on Wednesday, July 12th. BMO Capital Markets reiterated a hold rating and issued a $318.00 target price on shares of Biogen in a research note on Tuesday, July 18th. Goldman Sachs Group, Inc. (The) upgraded Biogen from a neutral rating to a buy rating and increased their target price for the stock from $228.00 to $338.00 in a research note on Wednesday. Finally, William Blair reiterated an outperform rating on shares of Biogen in a research note on Monday, June 26th. Fourteen analysts have rated the stock with a hold rating, fifteen 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 $328.89.
Biogen (BIIB) opened at 287.44 on Wednesday. Biogen has a 12 month low of $244.28 and a 12 month high of $333.65. The firm’s 50-day moving average is $274.41 and its 200-day moving average is $273.68. The stock has a market capitalization of $60.77 billion, a P/E ratio of 18.86 and a beta of 0.78.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $5.21 earnings per share. On average, equities analysts expect that Biogen will post $21.33 earnings per share for the current fiscal year.
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In other news, CEO Michel Vounatsos bought 1,402 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was purchased at an average price of $271.35 per share, with a total value of $380,432.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the sale, the director now directly owns 6,330 shares of the company’s stock, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. In the last three months, insiders sold 13,816 shares of company stock valued at $3,931,380. Corporate insiders own 0.32% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC purchased a new stake in Biogen during the first quarter worth approximately $102,000. Prentiss Smith & Co. Inc. increased its stake in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after buying an additional 50 shares during the period. Crestwood Advisors Group LLC purchased a new stake in Biogen during the first quarter worth approximately $106,000. Independent Portfolio Consultants Inc. increased its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. increased its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after buying an additional 67 shares during the period. 87.50% of the stock is owned by hedge funds and other 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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