Biogen (NASDAQ:BIIB) Rating Lowered to Hold at Argus

Biogen (NASDAQ:BIIB) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a research note issued on Friday, Marketbeat reports.

BIIB has been the subject of several other reports. Royal Bank of Canada dropped their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets dropped their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Truist Financial dropped their target price on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley cut their target price on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Price Performance

NASDAQ:BIIB opened at $122.98 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen has a 12 month low of $122.77 and a 12 month high of $238.00. The business’s 50-day moving average is $140.68 and its 200 day moving average is $157.62. The company has a market capitalization of $18.00 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities research analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biogen

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Biogen during the fourth quarter worth $25,000. Colonial Trust Co SC grew its position in Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 186 shares during the period. OFI Invest Asset Management acquired a new stake in Biogen during the 4th quarter worth about $32,000. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Biogen during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.