Guggenheim Analysts Give Biogen (BIIB) a $236.00 Price Target

Guggenheim set a $236.00 price target on Biogen (NASDAQ:BIIB) in a research report report published on Friday, March 22nd, TipRanks reports. The firm currently has a hold rating on the biotechnology company’s stock.

Several other equities analysts have also recently commented on BIIB. ValuEngine cut shares of Biogen from a sell rating to a strong sell rating in a research report on Thursday, March 21st. UBS Group cut shares of Biogen from a buy rating to a neutral rating and lowered their price target for the stock from $395.00 to $242.00 in a report on Friday, March 22nd. Atlantic Securities cut shares of Biogen from an overweight rating to a neutral rating in a report on Thursday, March 21st. JPMorgan Chase & Co. cut shares of Biogen from an overweight rating to a neutral rating and set a $244.00 price target on the stock. in a report on Thursday, March 21st. Finally, BMO Capital Markets lowered their price target on shares of Biogen from $322.00 to $250.00 and set a market perform rating on the stock in a report on Friday, March 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $295.04.

Shares of BIIB traded down $2.13 during trading hours on Friday, hitting $232.37. The stock had a trading volume of 1,521,190 shares, compared to its average volume of 2,063,774. The company has a market cap of $46.13 billion, a PE ratio of 8.87, a P/E/G ratio of 0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.32 and a quick ratio of 2.04. Biogen has a 1-year low of $216.12 and a 1-year high of $388.67.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.72 by $0.27. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $5.26 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts expect that Biogen will post 28.81 EPS for the current fiscal year.

In other Biogen news, Director Alexander J. Denner acquired 7,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were acquired at an average price of $328.45 per share, for a total transaction of $2,299,150.00. Following the completion of the acquisition, the director now owns 10,909 shares in the company, valued at $3,583,061.05. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander J. Denner acquired 30,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was acquired at an average price of $324.86 per share, for a total transaction of $9,745,800.00. Following the acquisition, the director now owns 10,909 shares of the company’s stock, valued at approximately $3,543,897.74. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in Biogen by 27,620.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 14,257,427 shares during the period. Norges Bank bought a new position in Biogen in the fourth quarter worth approximately $644,940,000. Capital World Investors raised its position in Biogen by 503.2% in the third quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock worth $873,986,000 after acquiring an additional 2,063,598 shares during the period. Renaissance Technologies LLC raised its position in Biogen by 163.2% in the third quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock worth $298,927,000 after acquiring an additional 524,575 shares during the period. Finally, Prudential Financial Inc. raised its position in Biogen by 158.4% in the fourth quarter. Prudential Financial Inc. now owns 689,208 shares of the biotechnology company’s stock worth $207,397,000 after acquiring an additional 422,529 shares during the period. Hedge funds and other institutional investors own 89.19% of the company’s stock.

About Biogen

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

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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