Mizuho Analysts Give Biogen (BIIB) a $400.00 Price Target

Mizuho set a $400.00 price target on Biogen (NASDAQ:BIIB) in a research report released on Thursday. The brokerage currently has a buy rating on the biotechnology company’s stock.

Several other equities analysts also recently weighed in on the stock. Vetr downgraded shares of Biogen from a strong-buy rating to a buy rating and set a $319.53 price target on the stock. in a report on Tuesday, August 29th. ValuEngine downgraded shares of Biogen from a buy rating to a hold rating in a report on Friday, September 1st. SunTrust Banks reaffirmed a buy rating and set a $354.00 price target on shares of Biogen in a report on Tuesday, October 24th. Canaccord Genuity started coverage on shares of Biogen in a report on Friday, October 27th. They set a hold rating and a $340.00 price target on the stock. Finally, BMO Capital Markets raised shares of Biogen from a market perform rating to an outperform rating and set a $377.00 price target on the stock in a report on Wednesday, October 25th. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Biogen has a consensus rating of Buy and a consensus price target of $350.13.

Biogen traded down $3.02 on Thursday, hitting $319.50. 877,091 shares of the company were exchanged, compared to its average volume of 1,158,551. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. The stock has a market capitalization of $68,205.52, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. Biogen has a one year low of $244.28 and a one year high of $348.84.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm earned $5.19 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. research analysts predict that Biogen will post 22.02 EPS for the current fiscal year.

In related news, Director Alexander J. Denner bought 30,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the acquisition, the director now owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Trust Group LLC increased its position in Biogen by 5.3% during the third quarter. Atlantic Trust Group LLC now owns 16,692 shares of the biotechnology company’s stock valued at $5,226,000 after acquiring an additional 844 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Biogen by 3.4% during the third quarter. Parametric Portfolio Associates LLC now owns 743,537 shares of the biotechnology company’s stock valued at $232,816,000 after acquiring an additional 24,415 shares during the last quarter. Institutional & Family Asset Management LLC increased its position in Biogen by 19.9% during the third quarter. Institutional & Family Asset Management LLC now owns 2,310 shares of the biotechnology company’s stock valued at $723,000 after acquiring an additional 384 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Biogen during the third quarter valued at $792,000. Finally, Visionary Asset Management Inc. bought a new position in Biogen during the third quarter valued at $219,000. Institutional investors own 88.12% of the company’s stock.

Biogen Company Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).