SunTrust Robinson Humphrey Initiates Coverage on Biogen Inc. (BIIB) Setting A Rating Of “Buy”


Biogen Inc. (NASDAQ:BIIB).

Equity analyst RBC Capital starting coverage on BIIB by announcing an initial rating of “Sector Perform”. On September 13 BMO Capital held the stock rating at “Market Perform” and moved up the price target to $377.00 from $284.70.

On August 16 the company was rated “Conviction Buy” according to a Goldman Sachs report up from the previous “Buy” rating. July 26 investment analysts at Morgan Stanley held the company rating at “Equal-Weight” but raised the price target from $301.00 to $311.00.

July 26 investment analysts at BMO Capital left the stock rating at “Market Perform” and raised the price target to $284.70 from $283.00.

The company is so far trading up by 0.37% percent from yesterday’s close. Shares last traded at $319.11 just above $300.47, the stock’s 50 day moving average and much higher than the 200 day moving average of $278.47. The 50 day moving average went up $18.64 or +6.20% whereas the 200 day average was up by +14.59%.

Biogen Inc., launched on April 1, 1997, 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). The Company also has a collaboration agreement with Genentech, Inc. (Genentech), a member of the Roche Group, with respect to RITUXAN for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia (CLL) and other conditions, GAZYVA indicated for the treatment of CLL and follicular lymphoma, and other anti-CD20 therapies..

Biogen Inc. currently has a P/E ratio of 20.94 and market cap is 67.47B. As of the last earnings report the EPS was $15.24 and is projected to be $21.50 for the current year with 211,431,000 shares outstanding. Analysts expect next quarter’s EPS will be $5.58 with next year’s EPS projected to be $23.14.

Traders are more bullish on shares of the company of late if you take note of the fall in short interest. The firm saw a fall in short interest of -0.84% as of the latest report on August 31, 2017. Short shares fell from 3,313,014 to 3,285,038 over that timeframe. Days to cover decreased from 3.0 to 3.0 and the percentage of shorted shares was 0.02% on August 31.