Biogen’s (BIIB) Hold Rating Reiterated at Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report published on Friday. Robert W. Baird currently has a $290.00 price target on the biotechnology company’s stock.
BIIB has been the topic of several other research reports. Vetr raised shares of Biogen from a buy rating to a strong-buy rating and set a $311.67 price objective on the stock in a research note on Tuesday, June 27th. Deutsche Bank AG started coverage on shares of Biogen in a research report on Friday, June 23rd. They issued a buy rating and a $315.00 target price on the stock. Credit Suisse Group set a $300.00 target price on shares of Biogen and gave the stock a hold rating in a research report on Friday, July 14th. Cantor Fitzgerald reissued a hold rating and issued a $277.00 target price on shares of Biogen in a research report on Thursday, May 25th. Finally, Sanford C. Bernstein reissued an outperform rating on shares of Biogen in a research report on Thursday, May 25th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Biogen has an average rating of Buy and a consensus target price of $328.81.
Shares of Biogen (NASDAQ BIIB) traded up 2.33% during midday trading on Friday, reaching $291.70. The company’s stock had a trading volume of 970,748 shares. Biogen has a 52 week low of $244.28 and a 52 week high of $304.23. The company has a 50 day moving average of $284.39 and a 200-day moving average of $274.87. The stock has a market capitalization of $61.67 billion, a price-to-earnings ratio of 19.14 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion for 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 revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.21 EPS. Equities research analysts predict that Biogen will post $21.44 earnings per share for the current year.
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In related news, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,816 shares of company stock valued at $3,931,380. Corporate insiders own 0.32% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BIIB. Pathstone Family Office LLC bought a new position in Biogen during the first quarter valued at approximately $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 valued at $104,000 after buying an additional 50 shares during the last quarter. Atlantic Trust LLC bought a new position in Biogen during the second quarter valued at approximately $114,000. 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 valued at $123,000 after buying an additional 219 shares during the last quarter. 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 valued at $128,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 87.25% 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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