Needham & Company LLC reiterated their buy rating on shares of Biogen (NASDAQ:BIIB – Free Report) in a research report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $288.00 price target on the biotechnology company’s stock.
Other equities analysts have also issued research reports about the company. Royal Bank of Canada restated an outperform rating and set a $317.00 price objective on shares of Biogen in a research note on Wednesday, June 26th. Wedbush raised their price objective on Biogen from $213.00 to $215.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. Barclays lowered their price objective on Biogen from $215.00 to $200.00 and set an equal weight rating on the stock in a research note on Thursday, April 25th. UBS Group lowered their price objective on Biogen from $250.00 to $214.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Finally, HC Wainwright restated a buy rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, May 23rd. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of Moderate Buy and a consensus price target of $283.00.
View Our Latest Research Report on Biogen
Biogen Stock Performance
Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm posted $4.02 EPS. As a group, equities analysts anticipate that Biogen will post 15.61 EPS for the current fiscal year.
Institutional Investors Weigh In On Biogen
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Biogen by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after purchasing an additional 2,218,744 shares during the period. Norges Bank bought a new stake in Biogen during the 4th quarter worth approximately $378,728,000. FIL Ltd grew its holdings in shares of Biogen by 936.4% in the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after acquiring an additional 593,158 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Biogen by 141.0% in the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after acquiring an additional 571,795 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Biogen by 24,726.3% in the fourth quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock valued at $123,411,000 after acquiring an additional 474,992 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.
About Biogen
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.
Recommended Stories
- Five stocks we like better than Biogen
- Why Invest in High-Yield Dividend Stocks?
- Amazon Stock is Primed to Rebound Strongly After AI Bubble Bursts
- Canada Bond Market Holiday: How to Invest and Trade
- Shell Stock: Oil & Gas Giant Committed to Buybacks and Dividends
- What are earnings reports?
- Chevron Stock Dips as Earnings Miss Highlights Merger Uncertainty
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.