Biogen (NASDAQ:BIIB) Stock Rating Reaffirmed by Raymond James

Raymond James reissued their market perform rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Thursday, MarketBeat reports.

A number of other equities research analysts also recently commented on BIIB. Needham & Company LLC restated a buy rating and issued a $285.00 price objective on shares of Biogen in a research report on Tuesday, September 24th. Mizuho decreased their price target on Biogen from $277.00 to $251.00 and set an outperform rating on the stock in a research note on Tuesday, August 6th. Scotiabank cut their price objective on Biogen from $275.00 to $244.00 and set a sector outperform rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company decreased their target price on shares of Biogen from $240.00 to $225.00 and set an equal weight rating on the stock in a research report on Friday, August 2nd. Finally, Wedbush cut their price target 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. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $273.78.

Biogen Trading Down 0.1 %

Shares of BIIB stock opened at $188.38 on Thursday. The company has a market capitalization of $27.43 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $198.14 and its two-hundred day moving average is $211.70. Biogen has a twelve month low of $181.31 and a twelve month high of $269.43.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. Biogen’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm posted $4.02 EPS. Equities analysts forecast that Biogen will post 16.13 EPS for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

Hedge funds and other institutional investors have recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in Biogen during the fourth quarter worth approximately $26,000. Plato Investment Management Ltd raised its position in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. Rise Advisors LLC acquired a new position in shares of Biogen during the first quarter worth about $27,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen in the second quarter worth about $33,000. Finally, Versant Capital Management Inc grew its stake in shares of Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

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.