Biogen (NASDAQ:BIIB) Stock Rating Reaffirmed by Raymond James

Biogen (NASDAQ:BIIBGet Free Report)‘s stock had its “market perform” rating reaffirmed by research analysts at Raymond James in a research note issued on Thursday, MarketBeat Ratings reports.

Several other equities research analysts have also commented on BIIB. Wells Fargo & Company cut their price objective on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Mizuho dropped their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Barclays decreased their price objective on Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $273.78.

Read Our Latest Report on Biogen

Biogen Stock Down 0.1 %

Biogen stock opened at $188.38 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The stock has a market capitalization of $27.44 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The business has a 50 day simple moving average of $198.48 and a 200-day simple moving average of $211.93. Biogen has a 12 month low of $181.31 and a 12 month high of $269.43.

Biogen (NASDAQ:BIIBGet Free Report) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.02 EPS. On average, analysts anticipate that Biogen will post 16.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd lifted its holdings in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Biogen in the fourth quarter valued at $26,000. Rise Advisors LLC purchased a new position in Biogen in the first quarter valued at $27,000. Itau Unibanco Holding S.A. acquired a new position in Biogen during the 2nd quarter worth $33,000. Finally, EntryPoint Capital LLC purchased a new stake in Biogen during the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 87.93% 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 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.

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