Biogen (NASDAQ:BIIB) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Biogen (NASDAQ:BIIB) from a strong-buy rating to a buy rating in a research note published on Saturday.

Several other equities analysts also recently commented on the stock. Barclays dropped their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a report on Monday, December 16th. Wolfe Research began coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Sixteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $242.68.

Biogen Trading Up 0.9 %

Shares of BIIB stock opened at $151.31 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen has a fifty-two week low of $145.07 and a fifty-two week high of $268.30. The company has a market cap of $22.05 billion, a PE ratio of 13.67, a P/E/G ratio of 1.83 and a beta of -0.08. The stock’s fifty day moving average price is $163.42 and its two-hundred day moving average price is $192.83.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for 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 business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.36 earnings per share. Equities analysts predict that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of institutional investors and hedge funds have recently made changes to their positions in BIIB. UMB Bank n.a. boosted its position in shares of Biogen by 139.8% during the second quarter. UMB Bank n.a. now owns 247 shares of the biotechnology company’s stock valued at $57,000 after buying an additional 144 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Biogen by 65.9% in the second quarter. Signaturefd LLC now owns 3,298 shares of the biotechnology company’s stock valued at $765,000 after purchasing an additional 1,310 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Biogen by 5.8% during the second quarter. International Assets Investment Management LLC now owns 1,811 shares of the biotechnology company’s stock valued at $420,000 after purchasing an additional 100 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in Biogen by 17.7% during the second quarter. Intact Investment Management Inc. now owns 3,530 shares of the biotechnology company’s stock worth $818,000 after purchasing an additional 530 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in Biogen in the 2nd quarter worth about $60,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.