Deutsche Bank AG Reaffirms “Buy” Rating for Biogen Inc. (BIIB)
Deutsche Bank AG reissued their buy rating on shares of Biogen Inc. (NASDAQ:BIIB) in a report published on Wednesday. They currently have a $319.00 price objective on the biotechnology company’s stock, up from their prior price objective of $315.00.
BIIB has been the subject of a number of other reports. Sanford C. Bernstein reiterated an outperform rating on shares of Biogen in a report on Thursday, May 25th. Vetr downgraded Biogen from a strong-buy rating to a buy rating and set a $311.67 price objective for the company. in a report on Wednesday, June 21st. Cantor Fitzgerald reiterated a neutral rating on shares of Biogen in a report on Wednesday, March 29th. Piper Jaffray Companies set a $442.00 price objective on Biogen and gave the stock a buy rating in a report on Monday, May 15th. Finally, Morgan Stanley reiterated an equal weight rating and set a $307.00 price objective on shares of Biogen in a report on Wednesday, June 14th. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Biogen has an average rating of Buy and a consensus target price of $328.89.
Shares of Biogen (BIIB) opened at 287.44 on Wednesday. Biogen has a one year low of $244.28 and a one year high of $333.65. The firm has a market capitalization of $60.77 billion, a price-to-earnings ratio of 18.86 and a beta of 0.78. The stock’s 50 day moving average price is $274.41 and its 200 day moving average price is $273.68.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company earned $5.21 earnings per share. Analysts expect that Biogen will post $21.33 EPS for the current fiscal year.
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In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,816 shares of company stock worth $3,931,380. Corporate insiders own 0.32% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BIIB. BlackRock Inc. raised its position in Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock worth $4,837,418,000 after buying an additional 17,074,075 shares during the period. Janus Capital Management LLC raised its position in Biogen by 204.8% in the first quarter. Janus Capital Management LLC now owns 1,936,719 shares of the biotechnology company’s stock worth $529,524,000 after buying an additional 1,301,251 shares during the period. Massachusetts Financial Services Co. MA raised its position in Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after buying an additional 1,295,540 shares during the period. Winslow Capital Management LLC bought a new position in Biogen during the first quarter worth approximately $345,143,000. Finally, Manning & Napier Advisors LLC raised its position in Biogen by 563.8% in the second quarter. Manning & Napier Advisors LLC now owns 814,369 shares of the biotechnology company’s stock worth $220,986,000 after buying an additional 691,694 shares during the period. Hedge funds and other institutional investors own 87.50% of the company’s stock.
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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