Biogen Inc. (NASDAQ:BIIB) was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $400.00 price target on the biotechnology company’s stock, up from their prior price target of $319.00. Mizuho’s price objective would suggest a potential upside of 19.16% from the company’s current price.

BIIB has been the subject of several other research reports. UBS AG reiterated a “neutral” rating and issued a $285.00 target price (up previously from $270.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 target price for the company. in a research note on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target for the company in a research note on Wednesday, August 16th. Morgan Stanley upgraded shares of Biogen from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $311.00 to $375.00 in a research note on Thursday, October 5th. Finally, Deutsche Bank AG restated a “buy” rating and set a $319.00 price target (up previously from $315.00) on shares of Biogen in a research note on Wednesday, July 26th. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Biogen currently has an average rating of “Buy” and an average target price of $339.66.

Shares of Biogen (BIIB) opened at 335.68 on Tuesday. The company has a 50-day moving average price of $319.52 and a 200 day moving average price of $283.51. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 22.03 and a beta of 0.77. Biogen has a one year low of $244.28 and a one year high of $344.37.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the company earned $5.21 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Biogen will post $21.56 EPS for the current fiscal year.

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In related news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the business’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 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. Company insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Beacon Trust Co. lifted its position in Biogen by 0.5% in the 1st quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after acquiring an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in Biogen by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 6 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in Biogen by 1.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 6 shares in the last quarter. Buckingham Capital Management Inc. lifted its position in Biogen by 0.3% in the 1st quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after acquiring an additional 8 shares in the last quarter. Finally, RMB Capital Management LLC lifted its position in Biogen by 1.1% in the 1st quarter. RMB Capital Management LLC now owns 814 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 9 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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