Biogen (NASDAQ:BIIB) Given Outperform Rating at William Blair

William Blair reiterated their outperform rating on shares of Biogen (NASDAQ:BIIB) in a report published on Wednesday, RTT News reports.

A number of other equities analysts have also issued reports on BIIB. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $270.00 to $240.00 and set a neutral rating on the stock in a research report on Thursday, April 11th. Barclays dropped their price objective on shares of Biogen from $215.00 to $200.00 and set an equal weight rating on the stock in a research note on Thursday, April 25th. Oppenheimer reiterated an outperform rating and set a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. HSBC boosted their price target on Biogen from $339.00 to $342.00 and gave the company a buy rating in a research report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a buy rating and set a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of Moderate Buy and an average price target of $286.50.

Biogen Trading Down 1.8 %

NASDAQ BIIB opened at $224.61 on Wednesday. The firm’s fifty day moving average price is $223.69 and its 200 day moving average price is $228.05. Biogen has a 12 month low of $189.44 and a 12 month high of $287.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The company has a market capitalization of $32.70 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 2.33 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the company posted $3.40 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, sell-side analysts expect that Biogen will post 15.63 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd lifted its stake in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Biogen in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of Biogen during the first quarter valued at $27,000. Gladius Capital Management LP purchased a new stake in Biogen during the 3rd quarter worth about $28,000. Finally, KB Financial Partners LLC raised its stake in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

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.