Biogen (NASDAQ:BIIB) Earns “Neutral” Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of Biogen (NASDAQ:BIIB) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $135.00 price objective on the biotechnology company’s stock, down from their prior price objective of $138.00.

BIIB has been the subject of a number of other reports. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Monday, December 16th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. HC Wainwright cut their price target on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada lowered their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Barclays lowered their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $211.85.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $136.57 on Tuesday. The stock has a fifty day simple moving average of $146.52 and a two-hundred day simple moving average of $172.19. Biogen has a 1-year low of $128.51 and a 1-year high of $238.00. The firm has a market cap of $19.90 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Analysts anticipate that Biogen will post 16.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Biogen by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock valued at $2,561,238,000 after buying an additional 70,368 shares during the last quarter. State Street Corp grew its stake in shares of Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Biogen by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock worth $563,709,000 after purchasing an additional 82,456 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Biogen in the fourth quarter worth about $355,569,000. 87.93% of the stock is 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.