Biogen Inc. (NASDAQ:BIIB) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $319.53 price target on the biotechnology company’s stock. Vetr‘s target price would suggest a potential upside of 12.34% from the stock’s previous close.

BIIB has been the topic of a number of other reports. ValuEngine raised Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Mizuho decreased their price objective on Biogen from $290.00 to $274.00 and set a “neutral” rating on the stock in a report on Wednesday, May 31st. Cowen and Company reaffirmed an “outperform” rating and issued a $271.00 price objective on shares of Biogen in a report on Monday, July 3rd. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $310.00 price objective on shares of Biogen in a report on Tuesday, July 11th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and an average price target of $328.81.

Shares of Biogen (BIIB) traded down 3.28% during midday trading on Thursday, hitting $284.42. 1,590,602 shares of the stock traded hands. The firm’s 50 day moving average price is $282.82 and its 200 day moving average price is $274.33. Biogen has a 12-month low of $244.28 and a 12-month high of $304.23. The company has a market capitalization of $60.14 billion, a PE ratio of 18.66 and a beta of 0.79.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.21 EPS. Analysts expect that Biogen will post $21.44 EPS for the current year.

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In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders sold 13,816 shares of company stock valued at $3,931,380 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Howland Capital Management LLC purchased a new position in Biogen during the first quarter valued at approximately $254,000. Capital Investment Advisors LLC increased its position in Biogen by 24.5% in the first quarter. Capital Investment Advisors LLC now owns 945 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 186 shares in the last quarter. DnB Asset Management AS increased its position in Biogen by 35.5% in the first quarter. DnB Asset Management AS now owns 49,313 shares of the biotechnology company’s stock valued at $13,483,000 after buying an additional 12,915 shares in the last quarter. Greylin Investment Mangement Inc. purchased a new position in Biogen during the first quarter valued at approximately $1,221,000. Finally, Cape ANN Savings Bank increased its position in Biogen by 2.9% in the first quarter. Cape ANN Savings Bank now owns 1,410 shares of the biotechnology company’s stock valued at $386,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 88.38% 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).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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