Biogen Inc. (NASDAQ:BIIB) Rating Increased to Buy at Vetr Inc.

Biogen Inc. (NASDAQ:BIIB) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Thursday, September 7th. The brokerage currently has a $346.83 price target on the biotechnology company’s stock. Vetr‘s target price points to a potential upside of 7.96% from the company’s current price.

Several other brokerages also recently weighed in on BIIB. ValuEngine downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $328.00 target price (up from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Cowen and Company reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, July 27th. BidaskClub raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a research note on Wednesday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $331.53.

Biogen (NASDAQ:BIIB) traded down 0.74% on Thursday, hitting $321.26. 2,235,370 shares of the stock traded hands. The company’s 50 day moving average price is $298.79 and its 200-day moving average price is $278.33. The stock has a market cap of $67.92 billion, a price-to-earnings ratio of 21.08 and a beta of 0.77. Biogen has a 52-week low of $244.28 and a 52-week high of $330.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the 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 net margin of 28.10% and a return on equity of 37.42%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.21 EPS. On average, analysts forecast that Biogen will post $21.48 earnings per share for the current fiscal year.

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In other news, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Beacon Trust Co. lifted its stake in Biogen by 0.5% during the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America lifted its stake in Biogen by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 6 shares during the last quarter. Carroll Financial Associates Inc. lifted its stake in Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares during the last quarter. Trust Co. of Vermont lifted its stake in Biogen by 0.3% during the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock worth $660,000 after purchasing an additional 7 shares during the last quarter. Finally, Buckingham Capital Management Inc. lifted its stake in Biogen by 0.3% during the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock worth $670,000 after purchasing an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 87.26% of the company’s stock.

About Biogen

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).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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