Biogen (NASDAQ:BIIB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Biogen (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a report released on Friday.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price target on shares of Biogen in a research report on Thursday, October 31st. Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and reduced their price objective for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.68.

Biogen Stock Down 0.6 %

NASDAQ:BIIB opened at $146.47 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm’s 50-day moving average price is $167.48 and its 200-day moving average price is $195.60. The company has a market capitalization of $21.34 billion, a PE ratio of 13.23, a P/E/G ratio of 1.83 and a beta of -0.08. Biogen has a 1-year low of $145.07 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the company earned $4.36 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. On average, equities analysts predict that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen during the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen in the 3rd quarter valued at $33,000. Blue Trust Inc. lifted its stake in Biogen by 249.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Finally, McClarren Financial Advisors Inc. grew its position in shares of Biogen by 11,450.0% during the second quarter. McClarren Financial Advisors Inc. now owns 231 shares of the biotechnology company’s stock valued at $54,000 after purchasing an additional 229 shares in the last quarter. 87.93% 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 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.