BidaskClub Lowers Biogen (NASDAQ:BIIB) to Sell
Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. lowered their target price on Teck Resources from C$56.00 to C$55.00 in a research note on Wednesday, April 24th. Royal Bank of Canada set a $165.00 price target on Allergan and gave the stock a hold rating in a research report on Monday, March 25th. TheStreet upgraded TELUS from a c+ rating to a b- rating in a research report on Thursday, April 4th. BMO Capital Markets increased their price target on Alimentation Couche-Tard from C$79.00 to C$84.00 and gave the stock an outperform rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reiterated a buy rating and set a $20.00 price target on shares of Neos Therapeutics in a research report on Wednesday, March 27th. Four equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and six have given a buy rating to the company’s stock. Biogen currently has a consensus rating of Hold and a consensus target price of $277.36.
Shares of BIIB opened at $231.55 on Friday. Biogen has a 52 week low of $216.12 and a 52 week high of $388.67. The company has a quick ratio of 2.60, a current ratio of 2.84 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $45.30 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.97. The business has a 50-day moving average of $231.53.
In other news, CEO Michel Vounatsos bought 4,351 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander J. Denner bought 50,342 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average price of $229.25 per share, for a total transaction of $11,540,903.50. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at $2,500,888.25. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 173,035 shares of company stock worth $39,759,632. Company insiders own 0.39% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwest Wealth Management LLC lifted its position in shares of Biogen by 188.9% in the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 68 shares in the last quarter. Resources Investment Advisors Inc. increased its holdings in shares of Biogen by 500.0% in the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Weaver Consulting Group acquired a new stake in shares of Biogen in the first quarter valued at approximately $28,000. Private Ocean LLC acquired a new stake in shares of Biogen in the first quarter valued at approximately $31,000. Finally, Somerset Trust Co increased its holdings in shares of Biogen by 150.0% in the first quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
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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