Biogen’s (BIIB) “Neutral” Rating Reiterated at Piper Sandler

Biogen (NASDAQ:BIIB)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a report released on Tuesday,Benzinga reports. They presently have a $135.00 target price on the biotechnology company’s stock, down from their prior target price of $138.00. Piper Sandler’s price target suggests a potential downside of 2.88% from the company’s previous close.

A number of other research firms also recently commented on BIIB. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Wolfe Research initiated coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Royal Bank of Canada dropped their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a report on Monday, December 16th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Biogen has a consensus rating of “Hold” and an average price target of $211.85.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $139.00 on Tuesday. Biogen has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.65 and a beta of -0.08. The firm has a 50-day moving average of $146.52 and a two-hundred day moving average of $172.19.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data 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 16.81% and a return on equity of 14.98%. As a group, analysts expect that Biogen will post 16.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biogen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grandfield & Dodd LLC boosted its holdings in Biogen by 5.2% during the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after buying an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its holdings in shares of Biogen by 9.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. 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.