Biogen (NASDAQ:BIIB) Price Target Increased to $310.00 by Analysts at Jefferies Financial Group

Biogen (NASDAQ:BIIB) had its price target upped by analysts at Jefferies Financial Group from $255.00 to $310.00 in a research note issued on Tuesday, The Fly reports. The firm presently has a “hold” rating on the biotechnology company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 7.02% from the stock’s previous close.

BIIB has been the subject of a number of other research reports. Cowen reissued a “buy” rating and set a $275.00 target price on shares of Biogen in a research note on Tuesday. ValuEngine raised shares of Biogen from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. set a $244.00 target price on shares of Biogen and gave the stock a “hold” rating in a research note on Monday, September 23rd. UBS Group lifted their target price on shares of Biogen from $280.00 to $334.00 and gave the stock a “positive” rating in a research note on Tuesday. Finally, Canaccord Genuity lifted their target price on shares of Biogen from $275.00 to $285.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $271.92.

NASDAQ BIIB traded up $66.17 during mid-day trading on Tuesday, reaching $289.68. 18,129,956 shares of the stock were exchanged, compared to its average volume of 1,802,279. Biogen has a one year low of $215.77 and a one year high of $344.00. The stock has a 50 day simple moving average of $228.35 and a 200-day simple moving average of $230.93. The stock has a market cap of $40.59 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm earned $5.80 earnings per share. Biogen’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Biogen will post 32.38 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. First National Bank of Omaha increased its position in shares of Biogen by 0.3% during the second quarter. First National Bank of Omaha now owns 16,632 shares of the biotechnology company’s stock worth $3,889,000 after acquiring an additional 45 shares in the last quarter. First Hawaiian Bank increased its position in shares of Biogen by 0.7% during the third quarter. First Hawaiian Bank now owns 6,359 shares of the biotechnology company’s stock worth $1,481,000 after acquiring an additional 46 shares in the last quarter. Fulton Bank N.A. increased its position in shares of Biogen by 4.1% during the second quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 47 shares in the last quarter. Sigma Investment Counselors Inc. increased its position in shares of Biogen by 4.9% during the second quarter. Sigma Investment Counselors Inc. now owns 1,023 shares of the biotechnology company’s stock worth $239,000 after acquiring an additional 48 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Biogen by 2.4% during the third quarter. Ballentine Partners LLC now owns 2,013 shares of the biotechnology company’s stock worth $468,000 after acquiring an additional 48 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

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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