Biogen (NASDAQ:BIIB) Stock Rating Upgraded by Atlantic Securities

Atlantic Securities upgraded shares of Biogen (NASDAQ:BIIB) from an underweight rating to a neutral rating in a report published on Tuesday, Price Targets.com reports. They currently have $415.00 price objective on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on BIIB. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Biogen from a sell rating to a neutral rating and lifted their price objective for the company from $200.00 to $440.00 in a report on Tuesday. Cowen raised Biogen from a market perform rating to an outperform rating and lifted their price objective for the company from $225.00 to $450.00 in a report on Monday. Morgan Stanley dropped their price objective on Biogen from $351.00 to $343.00 and set an overweight rating for the company in a report on Monday, April 19th. Bank of America raised Biogen from an underperform rating to a neutral rating and lifted their price objective for the company from $235.00 to $400.00 in a report on Monday. Finally, Robert W. Baird raised Biogen from an underperform rating to a neutral rating and boosted their price target for the stock from $216.00 to $382.00 in a report on Monday. Sixteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $369.86.

BIIB opened at $414.71 on Tuesday. The firm has a fifty day moving average price of $282.68. The company has a market cap of $62.44 billion, a P/E ratio of 21.76, a PEG ratio of 1.87 and a beta of 0.44. Biogen has a 1 year low of $223.25 and a 1 year high of $468.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.75.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 21st. The biotechnology company reported $5.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.06 by $0.28. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.67 billion. Biogen had a return on equity of 42.04% and a net margin of 23.89%. The firm’s quarterly revenue was down 23.8% on a year-over-year basis. During the same period in the previous year, the company posted $9.14 EPS. On average, sell-side analysts predict that Biogen will post 18.43 EPS for the current year.

In other Biogen news, insider Alfred Sandrock sold 7,672 shares of the company’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $440.00, for a total value of $3,375,680.00. Following the sale, the insider now owns 2,919 shares in the company, valued at approximately $1,284,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 360 shares of the company’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $274.17, for a total value of $98,701.20. Following the sale, the director now owns 7,400 shares in the company, valued at approximately $2,028,858. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA boosted its position in shares of Biogen by 5.9% during the 1st quarter. Primecap Management Co. CA now owns 16,758,256 shares of the biotechnology company’s stock valued at $4,688,122,000 after purchasing an additional 936,190 shares in the last quarter. BlackRock Inc. boosted its position in shares of Biogen by 0.6% during the 1st quarter. BlackRock Inc. now owns 13,502,628 shares of the biotechnology company’s stock valued at $3,777,361,000 after purchasing an additional 83,027 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Biogen by 10.3% during the 1st quarter. Clearbridge Investments LLC now owns 3,969,044 shares of the biotechnology company’s stock valued at $1,110,340,000 after purchasing an additional 370,371 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Biogen by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 2,796,511 shares of the biotechnology company’s stock valued at $780,818,000 after purchasing an additional 37,013 shares in the last quarter. Finally, Factorial Partners LLC boosted its position in shares of Biogen by 23,953.3% during the 1st quarter. Factorial Partners LLC now owns 2,573,700 shares of the biotechnology company’s stock valued at $9,200,000 after purchasing an additional 2,563,000 shares in the last quarter. Institutional investors own 85.10% of the company’s stock.

Biogen Company Profile

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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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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