Biogen (NASDAQ:BIIB) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Biogen (NASDAQ:BIIB) in a report published on Friday, MarketBeat.com reports. The firm issued a peer perform rating on the biotechnology company’s stock.

Several other equities analysts have also commented on BIIB. Citigroup assumed coverage on shares of Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective for the company. Truist Financial reissued a “buy” rating and set a $302.00 price objective (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a research report on Monday, September 9th. JPMorgan Chase & Co. dropped their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Scotiabank decreased their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $258.96.

Biogen Trading Down 1.3 %

Shares of Biogen stock opened at $157.94 on Friday. Biogen has a twelve month low of $157.40 and a twelve month high of $268.30. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $185.16 and a 200-day moving average price of $206.88. The firm has a market cap of $23.01 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.36 EPS. Equities research analysts anticipate that Biogen will post 16.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently made changes to their positions in the company. Plato Investment Management Ltd grew its holdings in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Biogen during the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in Biogen during the third quarter valued at approximately $33,000. EntryPoint Capital LLC bought a new position in Biogen in the first quarter worth approximately $36,000. Finally, Versant Capital Management Inc raised its stake in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after buying an additional 85 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

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.