Biogen (NASDAQ:BIIB) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Biogen (NASDAQ:BIIBFree Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

BIIB has been the subject of a number of other reports. William Blair reaffirmed an outperform rating on shares of Biogen in a research note on Wednesday, January 10th. Stifel Nicolaus decreased their price objective on Biogen from $315.00 to $287.00 and set a buy rating for the company in a research note on Thursday, December 14th. UBS Group lowered Biogen from a buy rating to a neutral rating and reduced their target price for the stock from $311.00 to $276.00 in a report on Wednesday, January 24th. Wells Fargo & Company lifted their target price on Biogen from $343.00 to $365.00 and gave the stock an overweight rating in a report on Thursday, November 9th. Finally, Raymond James upgraded Biogen from a market perform rating to an outperform rating and set a $283.00 target price on the stock in a report on Thursday, December 7th. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Biogen presently has an average rating of Moderate Buy and an average price target of $318.17.

Read Our Latest Research Report on BIIB

Biogen Stock Down 0.2 %

NASDAQ BIIB opened at $246.66 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.68. Biogen has a 52 week low of $220.86 and a 52 week high of $319.76. The stock has a fifty day moving average of $247.99 and a 200-day moving average of $254.13. The stock has a market capitalization of $35.74 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.70 and a beta of 0.05.

Biogen (NASDAQ:BIIBGet Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported $4.36 EPS for the quarter, topping analysts’ consensus estimates of $3.99 by $0.37. Biogen had a return on equity of 16.40% and a net margin of 14.63%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm earned $4.77 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Biogen will post 14.95 EPS for the current year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 110 shares of Biogen stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $248.00, for a total value of $27,280.00. Following the sale, the insider now owns 3,464 shares of the company’s stock, valued at $859,072. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Institutional Trading of Biogen

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. AG increased its position in Biogen by 0.6% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 6,688 shares of the biotechnology company’s stock worth $1,905,000 after buying an additional 38 shares during the last quarter. Snowden Capital Advisors LLC increased its position in Biogen by 2.5% during the second quarter. Snowden Capital Advisors LLC now owns 1,591 shares of the biotechnology company’s stock worth $453,000 after buying an additional 39 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Biogen by 1.9% during the second quarter. Coldstream Capital Management Inc. now owns 2,190 shares of the biotechnology company’s stock worth $624,000 after buying an additional 40 shares during the last quarter. First Manhattan Co. increased its position in Biogen by 33.3% during the fourth quarter. First Manhattan Co. now owns 160 shares of the biotechnology company’s stock worth $44,000 after buying an additional 40 shares during the last quarter. Finally, Systematic Financial Management LP increased its position in Biogen by 2.5% during the first quarter. Systematic Financial Management LP now owns 1,640 shares of the biotechnology company’s stock worth $456,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

Biogen Company Profile

(Get Free Report)

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 offers 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.

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