Biogen (NASDAQ:BIIB) had its price target raised by SVB Leerink from $380.00 to $475.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has an outperform rating on the biotechnology company’s stock.
Other research analysts have also issued reports about the company. Raymond James upgraded Biogen from an underperform rating to a market perform rating in a research report on Monday. HC Wainwright increased their price target on Biogen from $305.00 to $452.00 and gave the stock a buy rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on shares of Biogen from $259.00 to $400.00 and gave the company a sector perform rating in a report on Tuesday. TheStreet raised shares of Biogen from a c+ rating to a b rating in a research note on Tuesday. Finally, Barclays boosted their price target on shares of Biogen from $265.00 to $395.00 and gave the company an equal weight rating in a research note on Tuesday. Sixteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $369.86.
Shares of BIIB stock opened at $414.71 on Thursday. The firm’s 50-day moving average price is $282.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.75 and a current ratio of 2.12. The firm has a market cap of $62.44 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.87 and a beta of 0.44. Biogen has a twelve month low of $223.25 and a twelve month high of $468.55.
In related news, insider Alfred Sandrock sold 7,672 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $440.00, for a total transaction of $3,375,680.00. Following the completion of the sale, the insider now owns 2,919 shares in the company, valued at $1,284,360. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian S. Posner sold 360 shares of the company’s stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $274.17, for a total value of $98,701.20. Following the completion of the transaction, the director now directly owns 7,400 shares of the company’s stock, valued at $2,028,858. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Annapolis Financial Services LLC purchased a new stake in Biogen in the fourth quarter valued at $25,000. Signet Investment Advisory Group Inc. acquired a new stake in shares of Biogen during the fourth quarter worth about $26,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Biogen in the 1st quarter valued at about $26,000. Sittner & Nelson LLC acquired a new stake in shares of Biogen in the 4th quarter valued at about $28,000. Finally, Coastal Capital Group Inc. purchased a new position in Biogen during the 1st quarter worth approximately $28,000. 85.10% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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