Biogen (NASDAQ:BIIB) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research note issued to investors on Friday, AnalystRatings.com reports. HC Wainwright currently has a $335.00 price target on the biotechnology company’s stock.

BIIB has been the subject of a number of other reports. Canaccord Genuity raised their price target on Biogen from $285.00 to $305.00 and gave the stock a hold rating in a research report on Wednesday, October 23rd. Svb Leerink upgraded shares of Biogen from a market perform rating to an outperform rating and boosted their price objective for the stock from $256.00 to $350.00 in a research note on Wednesday, October 23rd. Mizuho restated a hold rating and set a $235.00 target price on shares of Biogen in a research report on Tuesday, October 22nd. BMO Capital Markets raised their target price on Biogen from $250.00 to $297.00 and gave the stock a market perform rating in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on shares of Biogen from $280.00 to $334.00 and gave the stock a positive rating in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $289.69.

NASDAQ:BIIB opened at $300.26 on Friday. Biogen has a 52 week low of $215.77 and a 52 week high of $344.00. The company’s 50 day moving average price is $285.65 and its 200-day moving average price is $244.76. The stock has a market cap of $54.18 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.14 and a beta of 1.08. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.35.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, topping the Zacks’ consensus estimate of $8.27 by $0.90. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Biogen had a return on equity of 46.14% and a net margin of 37.91%. Biogen’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $7.40 EPS. As a group, sell-side analysts anticipate that Biogen will post 33.14 earnings per share for the current year.

In related news, Director Brian S. Posner sold 1,055 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $292.35, for a total transaction of $308,429.25. Following the completion of the transaction, the director now owns 6,995 shares in the company, valued at $2,044,988.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.39% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Resources Management Corp CT ADV purchased a new stake in shares of Biogen in the third quarter worth about $34,000. Institutional & Family Asset Management LLC raised its position in shares of Biogen by 7.3% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 543 shares of the biotechnology company’s stock worth $126,000 after buying an additional 37 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Biogen during the 3rd quarter valued at $1,145,000. Man Group plc boosted its stake in Biogen by 47.0% in the 3rd quarter. Man Group plc now owns 694,842 shares of the biotechnology company’s stock worth $161,773,000 after purchasing an additional 222,250 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Biogen by 16.9% in the 3rd quarter. Squarepoint Ops LLC now owns 47,194 shares of the biotechnology company’s stock worth $10,988,000 after buying an additional 6,826 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

About Biogen

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.

Featured Story: How Do I Invest in Dividend Stocks

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.