During the last several months other analysts have commented on the company rating. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The stock was sold at an average price of $277.00, for a total value of $122,157.00.
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A number of other research analysts have also weighed in on BIIB.
A Biogen spokesman declined to clarify whether the company was ruling out further price increases this year.
Also Biogen recently initiated a Phase 1/2 clinical study of IONIS-SOD1Rx (BIIB067) in patients with amyotrophic lateral sclerosis (ALS), including patients with a mutation in superoxide dismutase 1 (SOD1), which accounts for approximately 2% of ALS patients. The shares opened for trading at $275.05 and hit $285.28 on the upside, eventually ending the session at $273.26, with a gain of 5.15% or 13.39 points.
In a report released today, Eric Schmidt from Cowen & Co. maintained an Outperform rating on Biogen Inc (NASDAQ: BIIB), with a price target of $368.
The profit at the biotechnology company fell by 6% to just over $831.5 million equal to $3.77 a share. There are now 17 research brokerages covering the shares which have issued Buy, Hold or Sell recommendations on the name. LGT Capital Partners raised its stake in shares of Biogen by 243.7% in the fourth quarter.
Currently, the analyst consensus on Biogen Inc is Moderate Buy and the average price target is $397.33, representing a 44.5% upside. JNBA Financial Advisors now owns 931 shares of the biotechnology company’s stock valued at $285,000 after buying an additional 195 shares in the last quarter. The company had revenue of $2778.00 million for the quarter, compared to analysts expectations of $2638.63 million. Chelsea Counsel Company increased its position in shares of Biogen by 108.7% in the third quarter. Candriam Luxembourg S.C.A. now owns 243,019 shares of the biotechnology company’s stock worth $74,449,000 after buying an additional 30,283 shares during the period.
Biogen’s fourth quarter results were strong with the company surpassing both earnings and revenue expectations.
Biogen Idec Inc. (Biogen Idec) is a global biotechnology company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders.
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Oral multiple sclerosis (MS) drug Tecfidera grew 8.4% from the year-ago period to $993 million. It also collaborates on the development and commercialization of RITUXAN (rituximab), which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.
