Biogen (NASDAQ:BIIB) Downgraded to Buy Rating by StockNews.com

Biogen (NASDAQ:BIIB) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently commented on the company. Mizuho decreased their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Wedbush decreased their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Oppenheimer decreased their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Barclays cut their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $242.68.

Biogen Trading Up 0.9 %

Shares of BIIB opened at $151.31 on Friday. The stock has a market capitalization of $22.05 billion, a P/E ratio of 13.67, a PEG ratio of 1.83 and a beta of -0.08. Biogen has a twelve month low of $145.07 and a twelve month high of $268.30. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $163.42 and a two-hundred day simple moving average of $193.05.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Inspire Trust Co. N.A. lifted its holdings in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares in the last quarter. Arlington Partners LLC boosted its holdings in Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after buying an additional 4,902 shares during the period. Finally, Edgestream Partners L.P. increased its stake in Biogen by 1,107.5% in the 3rd quarter. Edgestream Partners L.P. now owns 11,218 shares of the biotechnology company’s stock worth $2,174,000 after buying an additional 10,289 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

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.