Biogen (NASDAQ:BIIB) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Biogen (NASDAQ:BIIB) from a hold rating to a buy rating in a research report released on Monday.

Several other research firms have also weighed in on BIIB. Barclays lowered their target price on shares of Biogen from $200.00 to $190.00 and set an equal weight rating for the company in a research note on Friday, August 2nd. HSBC boosted their price objective on shares of Biogen from $339.00 to $342.00 and gave the company a buy rating in a research report on Friday, May 3rd. Needham & Company LLC restated a buy rating and issued a $288.00 target price on shares of Biogen in a research note on Thursday, August 1st. Oppenheimer reaffirmed an outperform rating and set a $270.00 target price on shares of Biogen in a report on Monday, April 29th. Finally, Piper Sandler cut their price target on Biogen from $335.00 to $313.00 and set an overweight rating on the stock in a report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen presently has an average rating of Moderate Buy and an average target price of $276.48.

Biogen Stock Performance

Shares of Biogen stock opened at $204.07 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.32 and a current ratio of 2.29. Biogen has a 1 year low of $189.44 and a 1 year high of $276.52. The firm’s 50-day simple moving average is $223.63 and its 200-day simple moving average is $221.84. The firm has a market cap of $29.71 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 2.09 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.02 earnings per share. Equities analysts forecast that Biogen will post 15.87 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC boosted its position in shares of Biogen by 68.6% during the 4th quarter. Global Retirement Partners LLC now owns 263 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 107 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Biogen by 13.4% during the fourth quarter. Bleakley Financial Group LLC now owns 2,291 shares of the biotechnology company’s stock worth $593,000 after buying an additional 270 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Biogen by 30.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,668 shares of the biotechnology company’s stock worth $690,000 after buying an additional 625 shares in the last quarter. Moody Aldrich Partners LLC grew its position in Biogen by 42.7% in the fourth quarter. Moody Aldrich Partners LLC now owns 3,610 shares of the biotechnology company’s stock worth $934,000 after buying an additional 1,080 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Biogen by 15.5% in the fourth quarter. Cerity Partners LLC now owns 2,678 shares of the biotechnology company’s stock valued at $693,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.