Biogen (BIIB) Given a $290.00 Price Target by Oppenheimer Analysts
Biogen (NASDAQ:BIIB) has been assigned a $290.00 price objective by stock analysts at Oppenheimer in a research report issued to clients and investors on Monday, TipRanks reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s target price would suggest a potential upside of 25.97% from the stock’s current price.
Several other equities analysts have also weighed in on BIIB. Cowen cut their target price on Biogen from $400.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. Piper Jaffray Companies cut their target price on Biogen from $402.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Guggenheim set a $236.00 target price on Biogen and gave the company a “hold” rating in a report on Friday, March 22nd. Mizuho set a $427.00 target price on Biogen and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Biogen in a report on Thursday, January 10th. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $291.78.
BIIB opened at $230.21 on Monday. The firm has a market cap of $44.91 billion, a P/E ratio of 8.79, a PEG ratio of 0.85 and a beta of 1.04. Biogen has a 1 year low of $216.12 and a 1 year high of $388.67. The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.46.
In other news, Director Robert W. Pangia sold 6,114 shares of Biogen stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $328.55, for a total value of $2,008,754.70. Following the transaction, the director now directly owns 24,701 shares in the company, valued at $8,115,513.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander J. Denner acquired 7,000 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was acquired at an average price of $328.45 per share, for a total transaction of $2,299,150.00. Following the completion of the purchase, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $3,583,061.05. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Northwest Wealth Management LLC grew its position in Biogen by 188.9% during the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after buying an additional 68 shares in the last quarter. Portfolio Solutions LLC acquired a new stake in Biogen during the fourth quarter worth about $26,000. Doyle Wealth Management acquired a new stake in Biogen during the fourth quarter worth about $32,000. Somerset Trust Co grew its position in Biogen by 150.0% during the first quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock worth $33,000 after buying an additional 84 shares in the last quarter. Finally, IMS Capital Management acquired a new stake in Biogen during the third quarter worth about $38,000. Institutional investors and hedge funds own 89.19% of the company’s stock.
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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