BIIB has been the topic of a number of other research reports. Royal Bank of Canada reiterated a hold rating and issued a $276.00 price objective on shares of Biogen in a report on Monday, July 6th. Mizuho restated a hold rating and issued a $316.00 target price on shares of Biogen in a research note on Wednesday, July 22nd. Piper Sandler cut their target price on shares of Biogen from $307.00 to $260.00 and set a neutral rating on the stock in a research note on Friday, June 19th. Stifel Nicolaus cut their target price on shares of Biogen from $294.00 to $284.00 and set a hold rating on the stock in a research note on Wednesday, July 22nd. Finally, Credit Suisse Group upgraded shares of Biogen from a neutral rating to an outperform rating and increased their price objective for the stock from $270.00 to $375.00 in a research note on Friday, August 7th. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Biogen presently has an average rating of Hold and an average price target of $310.36.
Shares of NASDAQ BIIB opened at $276.39 on Friday. Biogen has a 52-week low of $219.70 and a 52-week high of $374.99. The firm has a fifty day moving average of $281.37 and a 200-day moving average of $292.68. The stock has a market capitalization of $43.76 billion, a PE ratio of 8.10, a P/E/G ratio of 0.79 and a beta of 0.55. The company has a quick ratio of 2.19, a current ratio of 2.46 and a debt-to-equity ratio of 0.66.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, July 22nd. The biotechnology company reported $10.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.03 by $2.23. Biogen had a net margin of 40.91% and a return on equity of 50.10%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the previous year, the company earned $9.15 EPS. Equities research analysts expect that Biogen will post 35.4 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in BIIB. Primecap Management Co. CA lifted its holdings in shares of Biogen by 5.1% during the 1st quarter. Primecap Management Co. CA now owns 15,965,989 shares of the biotechnology company’s stock worth $5,051,320,000 after acquiring an additional 776,508 shares during the period. Nordea Investment Management AB lifted its holdings in Biogen by 108.7% during the 2nd quarter. Nordea Investment Management AB now owns 1,087,186 shares of the biotechnology company’s stock valued at $283,778,000 after purchasing an additional 566,347 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Biogen by 155.5% during the 1st quarter. APG Asset Management N.V. now owns 730,430 shares of the biotechnology company’s stock valued at $153,769,000 after purchasing an additional 444,508 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in Biogen by 644.8% during the 1st quarter. Orbimed Advisors LLC now owns 480,400 shares of the biotechnology company’s stock valued at $151,989,000 after purchasing an additional 415,900 shares during the last quarter. Finally, AJO LP lifted its holdings in Biogen by 413.3% during the 2nd quarter. AJO LP now owns 423,098 shares of the biotechnology company’s stock valued at $113,199,000 after purchasing an additional 340,674 shares during the last quarter. 83.74% of the stock is owned by institutional investors.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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