Biogen’s (BIIB) Hold Rating Reiterated at Needham & Company LLC

Biogen (NASDAQ:BIIB)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

BIIB has been the topic of several other reports. BMO Capital Markets decreased their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group cut their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Citigroup dropped their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Sanford C. Bernstein initiated coverage on Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target on the stock. Eighteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $213.15.

Biogen Trading Up 2.9 %

Shares of Biogen stock opened at $118.61 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen has a 1 year low of $110.04 and a 1 year high of $238.00. The firm has a market cap of $17.36 billion, a PE ratio of 10.60, a PEG ratio of 1.51 and a beta of 0.06. The company has a 50 day simple moving average of $134.71 and a two-hundred day simple moving average of $152.19.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Biogen in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Biogen during the first quarter valued at approximately $26,000. Colonial Trust Co SC increased its position in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 186 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Biogen in the 4th quarter worth approximately $32,000. 87.93% of the stock is owned by hedge funds and other 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.