BidaskClub Upgrades Biogen (BIIB) to Buy
Biogen (NASDAQ:BIIB) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Monday.
Other equities analysts have also recently issued reports about the stock. Robert W. Baird upgraded shares of Biogen from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 25th. Mizuho set a $423.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Thursday, May 3rd. Sanford C. Bernstein set a $318.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price (down previously from $375.00) on shares of Biogen in a report on Tuesday, April 24th. Finally, Leerink Swann set a $325.00 target price on shares of Biogen and gave the stock a “hold” rating in a report on Wednesday, April 25th. Nine research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $353.18.
Biogen opened at $291.92 on Monday, Marketbeat Ratings reports. The company has a quick ratio of 2.95, a current ratio of 3.23 and a debt-to-equity ratio of 0.42. The firm has a market cap of $62.47 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.68 and a beta of 0.84. Biogen has a fifty-two week low of $249.17 and a fifty-two week high of $370.57.
In other news, Director Alexander J. Denner acquired 48,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 25th. The stock was purchased at an average price of $269.91 per share, with a total value of $12,955,680.00. Following the completion of the acquisition, the director now owns 10,029 shares of the company’s stock, valued at approximately $2,706,927.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BIIB. Summit Trail Advisors LLC boosted its stake in 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 buying an additional 1,485,089 shares during the period. Alliancebernstein L.P. boosted its stake in Biogen by 27.0% during the fourth quarter. Alliancebernstein L.P. now owns 3,414,672 shares of the biotechnology company’s stock worth $1,087,812,000 after buying an additional 727,007 shares during the period. BlackRock Inc. boosted its stake in 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 buying an additional 463,656 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Biogen during the first quarter worth about $78,823,000. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in 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 buying an additional 250,926 shares during the period. 87.26% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.