Biogen Inc. (NASDAQ:BIIB – Get Rating) shares hit a new 52-week high during trading on Monday after Oppenheimer raised their price target on the stock from $300.00 to $315.00. Oppenheimer currently has an outperform rating on the stock. Biogen traded as high as $309.00 and last traded at $301.80, with a volume of 3452 shares changing hands. The stock had previously closed at $289.45.
Other research analysts have also recently issued reports about the company. Piper Sandler increased their price target on Biogen from $200.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, September 28th. SVB Leerink increased their price target on Biogen from $270.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, October 26th. Guggenheim increased their price target on Biogen from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group increased their price objective on Biogen from $238.00 to $309.00 and gave the company a “buy” rating in a report on Thursday, October 6th. Finally, JPMorgan Chase & Co. increased their price objective on Biogen from $221.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $296.71.
Insider Transactions at Biogen
In other news, EVP Susan H. Alexander sold 5,532 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $280.70, for a total transaction of $1,552,832.40. Following the transaction, the executive vice president now owns 39,396 shares of the company’s stock, valued at approximately $11,058,457.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.65% of the company’s stock.
Hedge Funds Weigh In On Biogen
Biogen Stock Up 3.3 %
The business’s fifty day moving average is $250.72 and its two-hundred day moving average is $221.97. The company has a market cap of $43.06 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.19. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.14 and a current ratio of 2.49.
Biogen (NASDAQ:BIIB – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The biotechnology company reported $4.77 earnings per share for the quarter, beating analysts’ consensus estimates of $4.16 by $0.61. Biogen had a net margin of 27.64% and a return on equity of 21.31%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the business posted $4.77 EPS. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. Equities analysts predict that Biogen Inc. will post 17.01 EPS for the current year.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis, SPINRAZA for the treatment of spinal muscular atrophy, and FUMADERM for the treatment of severe plaque psoriasis.
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