Raymond James reiterated their market perform rating on shares of Biogen (NASDAQ:BIIB – Free Report) in a research report sent to investors on Thursday morning, MarketBeat reports.
Several other equities analysts also recently issued reports on BIIB. Wedbush reduced their price objective on Biogen from $210.00 to $205.00 and set a neutral rating for the company in a research report on Monday, September 23rd. UBS Group lowered their price target on Biogen from $234.00 to $202.00 and set a neutral rating on the stock in a report on Thursday, October 3rd. Piper Sandler reduced their price objective on shares of Biogen from $335.00 to $313.00 and set an overweight rating for the company in a report on Friday, July 12th. Royal Bank of Canada lowered their target price on shares of Biogen from $292.00 to $269.00 and set an outperform rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company reduced their price target on shares of Biogen from $240.00 to $225.00 and set an equal weight rating for the company in a research note on Friday, August 2nd. Nine 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 stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $273.78.
Read Our Latest Research Report on BIIB
Biogen Trading Down 0.1 %
Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.02 earnings per share. Equities research analysts predict that Biogen will post 16.13 EPS for the current year.
Insider Activity at Biogen
In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.
Institutional Investors Weigh In On Biogen
A number of institutional investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC boosted its position in Biogen by 2.8% during the third quarter. Wedge Capital Management L L P NC now owns 152,661 shares of the biotechnology company’s stock valued at $29,592,000 after purchasing an additional 4,147 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Biogen during the 3rd quarter valued at about $100,000. Exchange Traded Concepts LLC grew its stake in shares of Biogen by 4,516.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock valued at $322,000 after buying an additional 1,626 shares in the last quarter. City State Bank increased its holdings in Biogen by 21.9% in the third quarter. City State Bank now owns 892 shares of the biotechnology company’s stock worth $173,000 after buying an additional 160 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Biogen by 521.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,430 shares of the biotechnology company’s stock valued at $277,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.
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