Biogen (BIIB) Given a $423.00 Price Target by Mizuho Analysts
Biogen (NASDAQ:BIIB) has been assigned a $423.00 target price by equities research analysts at Mizuho in a research note issued on Friday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Mizuho’s price target would indicate a potential upside of 45.74% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. TheStreet upgraded Biogen from a “c” rating to a “b-” rating in a research note on Monday, April 30th. Oppenheimer set a $375.00 price target on Biogen and gave the company a “buy” rating in a research note on Tuesday, April 24th. Stifel Nicolaus set a $425.00 price target on Biogen and gave the company a “buy” rating in a research note on Tuesday, April 24th. Guggenheim set a $385.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, Credit Suisse Group set a $384.00 price objective on shares of Biogen and gave the company a “buy” rating in a research report on Tuesday, April 24th. Nine analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $353.18.
Shares of NASDAQ:BIIB traded up $1.49 during trading on Friday, reaching $290.24. 1,391,265 shares of the stock were exchanged, compared to its average volume of 1,425,461. Biogen has a 12 month low of $249.17 and a 12 month high of $370.57. The stock has a market cap of $60.93 billion, a PE ratio of 13.31, a P/E/G ratio of 1.40 and a beta of 0.84. The company has a quick ratio of 2.95, a current ratio of 3.23 and a debt-to-equity ratio of 0.42.
In other Biogen news, Director Alexander J. Denner acquired 48,000 shares of Biogen stock in a transaction that occurred on Wednesday, April 25th. The shares were bought at an average price of $269.91 per share, with a total value of $12,955,680.00. Following the completion of the purchase, the director now directly owns 10,029 shares in the company, valued at approximately $2,706,927.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of BIIB. Mackenzie Financial Corp bought a new position in shares of Biogen during the 4th quarter worth about $20,562,000. Assetmark Inc. raised its holdings in shares of Biogen by 2,043.2% in the 4th quarter. Assetmark Inc. now owns 8,337 shares of the biotechnology company’s stock worth $2,656,000 after acquiring an additional 7,948 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in Biogen in the 4th quarter valued at about $149,000. Leucadia National Corp purchased a new stake in Biogen in the 4th quarter valued at about $490,000. Finally, USA Financial Portformulas Corp purchased a new stake in Biogen in the 4th quarter valued at about $4,093,000. 87.32% of the stock is currently owned by institutional investors and hedge funds.
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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