Biogen (NASDAQ:BIIB) Lowered to Hold Rating by Stifel Nicolaus

Stifel Nicolaus cut shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a report issued on Monday, Marketbeat.com reports. They currently have $175.00 price target on the biotechnology company’s stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a research note on Monday, November 18th. Mizuho dropped their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Wedbush decreased their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. UBS Group decreased their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.32.

Biogen Price Performance

Biogen stock opened at $146.79 on Monday. The stock’s fifty day moving average price is $169.14 and its two-hundred day moving average price is $196.79. The firm has a market cap of $21.39 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen has a one year low of $146.57 and a one year high of $268.30.

Biogen (NASDAQ:BIIB) last posted 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 business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.36 earnings per share. As a group, research analysts expect that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Trading of Biogen

A number of institutional investors have recently bought and sold shares of BIIB. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen during the 2nd quarter worth approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen in the third quarter valued at $33,000. Blue Trust Inc. raised its holdings in shares of Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 127 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the period. 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.