William Blair Reaffirms “Outperform” Rating for Biogen (NASDAQ:BIIB)

William Blair reiterated their outperform rating on shares of Biogen (NASDAQ:BIIB) in a report issued on Monday morning,RTT News reports.

A number of other analysts have also weighed in on the stock. Bank of America reaffirmed a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $230.00 to $164.00 in a research report on Friday, December 20th. Morgan Stanley cut Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Wolfe Research initiated coverage on Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research note on Monday, December 16th. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and a consensus target price of $230.00.

Biogen Stock Up 0.9 %

BIIB opened at $150.18 on Monday. The stock’s 50 day moving average price is $156.92 and its 200 day moving average price is $186.74. 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 stock has a market cap of $21.88 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.74 and a beta of -0.07. Biogen has a 12 month low of $145.07 and a 12 month high of $252.17.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $4.36 earnings per share. As a group, research analysts predict that Biogen will post 16.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Inspire Trust Co. N.A. boosted its stake in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after buying an additional 4,025 shares during the period. Centre Asset Management LLC raised its holdings in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after acquiring an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Principal Financial Group Inc. grew its stake in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after purchasing an additional 5,270 shares in the last quarter. Finally, Arlington Partners LLC increased its position in Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares during 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.