Biogen Inc. (BIIB) Stock Rating Upgraded by Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has $338.00 price target on the biotechnology company’s stock, up from their previous price target of $228.00.
BIIB has been the subject of several other research reports. Leerink Swann set a $300.00 price target on shares of Biogen and gave the stock a hold rating in a report on Monday, April 3rd. Vetr upgraded shares of Biogen from a buy rating to a strong-buy rating and set a $311.67 price target for the company in a report on Tuesday, June 27th. Deutsche Bank AG started coverage on shares of Biogen in a report on Friday, June 23rd. They set a buy rating and a $315.00 price target for the company. Cowen and Company reiterated a buy rating and set a $338.00 price target on shares of Biogen in a report on Tuesday, April 25th. Finally, Barclays PLC reiterated an overweight rating and set a $360.00 price target (down previously from $380.00) on shares of Biogen in a report on Sunday, April 23rd. Fourteen research 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’s stock. Biogen has a consensus rating of Buy and a consensus price target of $328.89.
Shares of Biogen (BIIB) opened at 287.44 on Wednesday. The company’s 50-day moving average is $274.41 and its 200-day moving average is $273.68. Biogen has a 52-week low of $244.28 and a 52-week high of $333.65. The stock has a market cap of $60.77 billion, a PE ratio of 18.86 and a beta of 0.78.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data 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. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. 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 earnings per share. Equities analysts anticipate that Biogen will post $21.33 EPS for the current year.
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In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction 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 owns 22,258 shares in the company, valued at approximately $6,455,042.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michel Vounatsos acquired 1,402 shares of the business’s stock in a transaction on Monday, May 1st. The shares were purchased at an average price of $271.35 per share, with a total value of $380,432.70. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 13,816 shares of company stock valued at $3,931,380. 0.32% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Pathstone Family Office LLC bought a new position in Biogen during the first quarter worth $102,000. Prentiss Smith & Co. Inc. boosted its position 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 bought a new position in Biogen during the first quarter worth $106,000. Independent Portfolio Consultants Inc. boosted its position 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. boosted its position 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. Institutional investors own 87.50% 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).
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