Biogen (NASDAQ:BIIB) Price Target Increased to $475.00 by Analysts at SVB Leerink

Biogen (NASDAQ:BIIB) had its price target boosted by SVB Leerink from $380.00 to $475.00 in a report released on Thursday, The Fly reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

A number of other research analysts have also recently commented on the stock. HC Wainwright upped their price target on shares of Biogen from $305.00 to $452.00 and gave the stock a buy rating in a report on Tuesday. Cowen raised shares of Biogen from a market perform rating to an outperform rating and raised their target price for the stock from $225.00 to $450.00 in a research report on Monday. Oppenheimer lifted their price target on shares of Biogen from $300.00 to $325.00 and gave the company an outperform rating in a research note on Tuesday, May 18th. Jefferies Financial Group increased their price objective on Biogen from $450.00 to $500.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Wedbush raised their price objective on Biogen from $236.00 to $245.00 and gave the stock a neutral rating in a report on Monday, April 12th. Sixteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $369.86.

Shares of NASDAQ:BIIB opened at $414.71 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.12 and a debt-to-equity ratio of 0.68. The company’s 50 day simple moving average is $282.68. Biogen has a 1 year low of $223.25 and a 1 year high of $468.55. The stock has a market capitalization of $62.44 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.87 and a beta of 0.44.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 21st. The biotechnology company reported $5.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.06 by $0.28. Biogen had a return on equity of 42.04% and a net margin of 23.89%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the business earned $9.14 EPS. Biogen’s revenue was down 23.8% compared to the same quarter last year. Analysts expect that Biogen will post 18.43 earnings per share for the current fiscal year.

In other Biogen news, Director Brian S. Posner sold 360 shares of the business’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 transaction of $98,701.20. Following the sale, the director now owns 7,400 shares of the company’s stock, valued at approximately $2,028,858. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alfred Sandrock sold 7,672 shares of the company’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $440.00, for a total transaction of $3,375,680.00. Following the transaction, the insider now owns 2,919 shares in the company, valued at approximately $1,284,360. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prentice Wealth Management LLC acquired a new position in shares of Biogen in the first quarter valued at about $135,000. Advisory Services Network LLC boosted its position in Biogen by 51.3% in the first quarter. Advisory Services Network LLC now owns 4,555 shares of the biotechnology company’s stock valued at $1,274,000 after buying an additional 1,544 shares during the last quarter. Sierra Capital LLC acquired a new position in Biogen in the 1st quarter worth approximately $42,000. Kaizen Financial Strategies purchased a new position in Biogen during the 1st quarter worth approximately $308,000. Finally, Adams Chetwood Wealth Management LLC lifted its stake in Biogen by 7.1% during the 1st quarter. Adams Chetwood Wealth Management LLC now owns 1,127 shares of the biotechnology company’s stock valued at $315,000 after acquiring an additional 75 shares during the period. 85.10% of the stock is owned by institutional investors.

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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