Biogen (BIIB) Given a $293.00 Price Target by Cantor Fitzgerald Analysts

Cantor Fitzgerald set a $293.00 price target on Biogen (NASDAQ:BIIB) in a report published on Wednesday, July 25th. The brokerage currently has a hold rating on the biotechnology company’s stock.

Several other analysts have also weighed in on BIIB. Oppenheimer set a $375.00 price objective on Biogen and gave the stock a buy rating in a report on Tuesday, April 24th. ValuEngine raised Biogen from a sell rating to a hold rating in a report on Saturday, May 12th. BidaskClub lowered Biogen from a buy rating to a hold rating in a report on Tuesday, June 19th. Canaccord Genuity set a $335.00 price target on Biogen and gave the company a buy rating in a research note on Friday, July 6th. Finally, HC Wainwright reaffirmed a buy rating on shares of Biogen in a research note on Monday, July 9th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $374.50.

NASDAQ BIIB traded down $3.90 during trading on Wednesday, hitting $343.00. The company’s stock had a trading volume of 1,235,450 shares, compared to its average volume of 2,033,398. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 0.48. The company has a market cap of $69.88 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.48 and a beta of 0.89. Biogen has a 52 week low of $249.17 and a 52 week high of $388.67.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.22 by $0.58. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the firm earned $5.04 EPS. Biogen’s revenue for the quarter was up 9.1% compared to the same quarter last year. sell-side analysts expect that Biogen will post 25.35 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in BIIB. Summit Trail Advisors LLC raised its position in shares of Biogen by 24,755.6% during the first quarter. Summit Trail Advisors LLC now owns 1,491,088 shares of the biotechnology company’s stock worth $1,491,000 after acquiring an additional 1,485,089 shares during the last quarter. BlackRock Inc. raised its position in shares of Biogen by 2.8% during the first quarter. BlackRock Inc. now owns 17,268,339 shares of the biotechnology company’s stock worth $4,728,416,000 after acquiring an additional 463,656 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Biogen during the first quarter worth $78,823,000. Boston Partners bought a new stake in shares of Biogen during the second quarter worth $76,080,000. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of Biogen by 38.8% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 896,844 shares of the biotechnology company’s stock worth $245,573,000 after acquiring an additional 250,926 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

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