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

Stifel Nicolaus downgraded shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a research report released on Monday morning, MarketBeat Ratings reports. Stifel Nicolaus currently has $175.00 price objective on the biotechnology company’s stock.

A number of other brokerages have also recently weighed in on BIIB. Bank of America reaffirmed a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Mizuho reduced their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. UBS Group lowered their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Jefferies Financial Group lowered Biogen from a “buy” rating to a “hold” rating and cut their price objective for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.32.

Biogen Stock Up 0.3 %

BIIB opened at $150.49 on Monday. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. Biogen has a 12 month low of $148.60 and a 12 month high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The business has a 50-day moving average of $170.55 and a two-hundred day moving average of $197.67.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $4.36 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, research analysts expect that Biogen will post 16.43 earnings per share for the current year.

Hedge Funds Weigh In On Biogen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its stake in shares of Biogen by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after acquiring an additional 117,578 shares during the period. State Street Corp lifted its position in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the period. Geode Capital Management LLC lifted its position in Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares during the period. RA Capital Management L.P. increased its position in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after purchasing an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Biogen by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after purchasing an additional 18,905 shares during the period. 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.