Cowen reiterated their buy rating on shares of Biogen (NASDAQ:BIIB) in a report issued on Tuesday, AnalystRatings.com reports. The firm currently has a $275.00 price objective on the biotechnology company’s stock.
Several other research firms have also weighed in on BIIB. Oppenheimer set a $290.00 price objective on shares of Biogen and gave the company a buy rating in a research note on Sunday, May 5th. Wedbush initiated coverage on shares of Biogen in a research note on Wednesday, May 22nd. They issued a neutral rating and a $231.00 price objective on the stock. Piper Jaffray Companies reiterated a hold rating on shares of Biogen in a research note on Friday, July 26th. Credit Suisse Group initiated coverage on shares of Biogen in a research note on Monday, May 20th. They issued an underperform rating and a $198.00 price objective on the stock. Finally, TheStreet lowered shares of Biogen from a b- rating to a c+ rating in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $269.74.
Shares of NASDAQ:BIIB traded down $2.42 during mid-day trading on Tuesday, hitting $240.64. The stock had a trading volume of 48,795 shares, compared to its average volume of 1,249,192. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $44.83 billion, a P/E ratio of 9.19, a PEG ratio of 0.89 and a beta of 0.96. Biogen has a 12-month low of $216.12 and a 12-month high of $358.41. The firm’s 50 day simple moving average is $234.87.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Weaver Consulting Group bought a new stake in Biogen in the 1st quarter valued at $28,000. Cornerstone Advisors Inc. boosted its holdings in Biogen by 6.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,427 shares of the biotechnology company’s stock valued at $334,000 after purchasing an additional 84 shares during the period. Accident Compensation Corp bought a new stake in Biogen in the 1st quarter valued at $284,000. Piedmont Investment Advisors Inc. boosted its holdings in Biogen by 41.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 23,763 shares of the biotechnology company’s stock valued at $5,617,000 after purchasing an additional 6,966 shares during the period. Finally, Fosun International Ltd boosted its holdings in Biogen by 20.0% in the 1st quarter. Fosun International Ltd now owns 2,400 shares of the biotechnology company’s stock valued at $559,000 after purchasing an additional 400 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.
Biogen Company Profile
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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