Stifel Nicolaus upgraded shares of Biogen Inc. (NASDAQ:BIIB) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $415.00 price target on the biotechnology company’s stock, up from their previous price target of $300.00.

“gigantic” aducanumab phase 3 trial, which started in 2015 and was 50 percent enrolled in the second quarter of 2017, Shrader commented in his upgrade note. This should be seen as a “no news is good news” scenario as the Data and Safety Monitoring Board has likely seen a lot of data and hasn’t reported anything negative.Second, Biogen’s partner Eisai is set to report an interim outlook at its plaque-busting mAb that targets the form of Ab plaque thought to lead to neuronal destruction, the analyst continued. The only possible negative outcome would be strong plaque removal with no hints of cognitive benefit and any other result could either be very good or OK.Third, Biogen’s often ignored stroke programs address a very large market. Of particular note, the company’s Tysabri stoke program uncovered the “same cognitive and energy benefits in stroke patients that are routinely reported in MS patients” and turning this effect into a clinical endpoint that would be acceptable for the U.S. Food and Drug Administration is the likely next step.Finally, Ocrelizumab as part of the company’s base business is “meh not mud,” the analyst added. The therapy remains a drug with “remarkable anti inflammatory properties,” but a commercial rollout will likely be “measured.,” the firm’s analyst wrote.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Biogen from a hold rating to a buy rating in a research report on Thursday, June 22nd. Vetr downgraded Biogen from a strong-buy rating to a buy rating and set a $311.67 price target for the company. in a report on Wednesday, June 21st. Deutsche Bank AG began coverage on Biogen in a report on Friday, June 23rd. They issued a buy rating and a $315.00 price target for the company. Goldman Sachs Group, Inc. (The) raised Biogen from a neutral rating to a buy rating and raised their price target for the stock from $228.00 to $338.00 in a report on Wednesday, July 26th. Finally, Cowen and Company reissued a buy rating on shares of Biogen in a report on Thursday, July 27th. Eleven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $339.66.

Biogen (NASDAQ:BIIB) last issued 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. 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 the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $5.21 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year.

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In other 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 value of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Biogen by 2.3% in the second quarter. BlackRock Inc. now owns 18,107,358 shares of the biotechnology company’s stock worth $4,913,612,000 after purchasing an additional 415,099 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Biogen by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,534,827 shares of the biotechnology company’s stock worth $3,944,171,000 after purchasing an additional 182,337 shares in the last quarter. State Street Corp boosted its holdings in Biogen by 1.5% in the second quarter. State Street Corp now owns 9,721,312 shares of the biotechnology company’s stock worth $2,637,973,000 after purchasing an additional 140,929 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock worth $2,493,871,000 after purchasing an additional 351,224 shares in the last quarter. Finally, FMR LLC boosted its holdings in Biogen by 10.1% in the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after purchasing an additional 561,436 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

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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