Latest Stocks: Biogen Inc (BIIB) Price Target Cut to $274.00 by Analysts at Mizuho

Latest Stocks: Biogen Inc (BIIB) Price Target Cut to $274.00 by Analysts at Mizuho

Biogen Inc (NASDAQ:BIIB) had its target price lowered by Mizuho from $290.00 to $274.00 in a research note released on Wednesday morning. The brokerage currently has a neutral rating on the biotechnology company’s stock.

BIIB has been the topic of several other research reports. Sanford C. Bernstein reissued an outperform rating and issued a $310.00 price target on shares of Biogen in a research report on Friday, February 24th. Leerink Swann set a $300.00 price target on shares of Biogen and gave the company a hold rating in a research report on Monday, April 3rd. Citigroup Inc raised shares of Biogen from a neutral rating to a buy rating and set a $305.00 price target on the stock in a research report on Tuesday, February 7th. Vetr lowered shares of Biogen from a strong-buy rating to a buy rating and set a $295.39 price target on the stock. in a research report on Tuesday, February 7th. Finally, Cowen and Company reissued a buy rating and issued a $338.00 price target on shares of Biogen in a research report on Tuesday, April 25th. Twelve analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Biogen currently has an average rating of Buy and a consensus target price of $330.09.

Biogen (BIIB) opened at 258.50 on Wednesday. The firm has a 50-day moving average of $262.13 and a 200 day moving average of $278.86. Biogen has a 12-month low of $223.02 and a 12-month high of $333.65. The company has a market capitalization of $54.83 billion, a PE ratio of 16.19 and a beta of 0.72.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.23. Biogen had a net margin of 32.34% and a return on equity of 38.48%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the previous year, the firm posted $4.79 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Biogen will post $20.48 EPS for the current fiscal year.

In related news, VP Paul J. Clancy sold 9,891 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $291.55, for a total transaction of $2,883,721.05. Following the completion of the sale, the vice president now directly owns 20,705 shares in the company, valued at approximately $6,036,542.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michel Vounatsos purchased 1,402 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were purchased at an average price of $271.35 per share, with a total value of $380,432.70. The disclosure for this purchase can be found here. Insiders sold a total of 21,764 shares of company stock valued at $6,295,354 in the last ninety days. 0.32% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of BIIB. Dillon & Associates Inc. raised its stake in Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock worth $487,000 after buying an additional 5 shares in the last quarter. Capital Analysts LLC raised its stake in Biogen by 1.4% in the fourth quarter. Capital Analysts LLC now owns 423 shares of the biotechnology company’s stock worth $120,000 after buying an additional 6 shares in the last quarter. Bienville Capital Management LLC raised its stake in Biogen by 0.7% in the fourth quarter. Bienville Capital Management LLC now owns 861 shares of the biotechnology company’s stock worth $244,000 after buying an additional 6 shares in the last quarter. Beacon Trust Co. raised its stake in Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after buying an additional 6 shares in the last quarter. Finally, Guardian Life Insurance Co. of America raised its stake in Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after buying an additional 6 shares in the last quarter. Institutional investors own 86.97% of the company’s stock. Biogen Company Profile

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