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

William Blair reaffirmed their outperform rating on shares of Biogen (NASDAQ:BIIB) in a report issued on Monday,RTT News reports.

Other research analysts have also recently issued reports about the stock. TD Cowen reduced their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wolfe Research started coverage on shares of Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Citigroup started coverage on Biogen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective on the stock. Mizuho decreased their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Finally, Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $230.00.

Biogen Stock Up 0.9 %

Shares of NASDAQ BIIB opened at $150.18 on Monday. The stock has a market capitalization of $21.88 billion, a PE ratio of 13.57, a P/E/G ratio of 1.74 and a beta of -0.07. 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 moving average of $156.92 and a 200-day moving average of $186.74. Biogen has a 52-week low of $145.07 and a 52-week high of $252.17.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Grandfield & Dodd LLC raised its stake 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 acquiring an additional 62 shares during the period. Quintet Private Bank Europe S.A. raised its position 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 worth $138,000 after purchasing an additional 63 shares during the period. TD Private Client Wealth LLC raised its position 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 worth $75,000 after purchasing an additional 77 shares during the period. Huntington National Bank lifted its holdings in shares of Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock worth $447,000 after purchasing an additional 79 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Biogen by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after purchasing an additional 79 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

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.