JPMorgan Chase & Co. restated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research report report published on Thursday morning.

A number of other equities analysts have also recently issued reports on the company. BidaskClub upgraded Biogen from a hold rating to a buy rating in a report on Friday, October 12th. Royal Bank of Canada cut their price objective on Biogen to $338.00 and set a sector perform rating for the company in a report on Monday, November 26th. Oppenheimer cut their price objective on Biogen from $380.00 to $372.00 and set an outperform rating for the company in a report on Tuesday, December 18th. ValuEngine cut Biogen from a hold rating to a sell rating in a report on Wednesday, December 19th. Finally, BTIG Research initiated coverage on Biogen in a report on Thursday, December 20th. They issued a buy rating and a $362.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $381.86.

Shares of NASDAQ BIIB opened at $333.21 on Thursday. The stock has a market capitalization of $65.81 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75. Biogen has a twelve month low of $249.17 and a twelve month high of $388.67.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.78 by $0.62. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.31 EPS. Research analysts forecast that Biogen will post 25.84 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Biogen by 6.5% during the 3rd quarter. AQR Capital Management LLC now owns 3,024,037 shares of the biotechnology company’s stock valued at $1,068,422,000 after acquiring an additional 183,542 shares during the period. Northern Trust Corp boosted its holdings in Biogen by 0.7% during the 2nd quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock valued at $839,536,000 after acquiring an additional 19,730 shares during the period. Capital World Investors boosted its holdings in Biogen by 503.2% during the 3rd quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock valued at $873,986,000 after acquiring an additional 2,063,598 shares during the period. Bank of New York Mellon Corp boosted its holdings in Biogen by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock valued at $685,588,000 after acquiring an additional 72,668 shares during the period. Finally, Jackson Square Partners LLC boosted its holdings in Biogen by 5.7% during the 3rd quarter. Jackson Square Partners LLC now owns 2,241,778 shares of the biotechnology company’s stock valued at $792,042,000 after acquiring an additional 121,072 shares during the period. Institutional investors own 86.78% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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