Cowen and Company reissued their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a research note released on Thursday morning.

A number of other equities analysts have also recently issued reports 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 report on Monday, June 19th. Morgan Stanley restated an equal weight rating and set a $311.00 price objective (up from $301.00) on shares of Biogen in a research note on Wednesday, July 26th. BMO Capital Markets restated a market perform rating and set a $328.00 price objective (up from $317.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr cut Biogen from a buy rating to a hold rating and set a $298.30 price objective on the stock. in a research note on Wednesday, July 26th. Finally, Leerink Swann restated a market perform rating and set a $338.00 price objective (up from $304.00) on shares of Biogen in a research note on Wednesday, July 26th. Fourteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Biogen currently has a consensus rating of Buy and an average price target of $328.89.

Biogen (BIIB) opened at 287.44 on Thursday. Biogen has a 52 week low of $244.28 and a 52 week high of $307.76. The company has a market cap of $60.77 billion, a price-to-earnings ratio of 18.86 and a beta of 0.77. The firm has a 50-day moving average of $274.41 and a 200-day moving average of $273.68.

Biogen (NASDAQ:BIIB) last issued its 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. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the business earned $5.21 EPS. Biogen’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts forecast that Biogen will post $21.33 earnings per share for the current year.

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In other news, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction dated 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 completion of the sale, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction dated Tuesday, July 25th. The shares were 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 owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold a total of 13,816 shares of company stock valued at $3,931,380 in the last ninety days. Insiders own 0.32% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Boltwood Capital Management increased its stake in shares of Biogen by 18.3% in the first quarter. Boltwood Capital Management now owns 2,460 shares of the biotechnology company’s stock worth $672,000 after buying an additional 380 shares during the period. West Oak Capital LLC increased its stake in shares of Biogen by 5.9% in the first quarter. West Oak Capital LLC now owns 4,558 shares of the biotechnology company’s stock worth $1,246,000 after buying an additional 252 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Biogen during the first quarter worth about $33,540,000. Watch Point Trust Co increased its stake in shares of Biogen by 1.9% in the first quarter. Watch Point Trust Co now owns 6,059 shares of the biotechnology company’s stock worth $1,657,000 after buying an additional 115 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Biogen by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 201,496 shares of the biotechnology company’s stock worth $55,093,000 after buying an additional 4,354 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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