Biogen (NASDAQ:BIIB) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Biogen (NASDAQ:BIIB) in a report released on Thursday,Benzinga reports.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Canaccord Genuity Group decreased their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. Barclays decreased their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein assumed coverage on Biogen in a research report on Tuesday. They set a “market perform” rating and a $160.00 price target on the stock. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $211.96.

Biogen Trading Up 3.8 %

BIIB opened at $138.45 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock’s 50 day moving average price is $147.73 and its 200-day moving average price is $174.05. Biogen has a one year low of $128.51 and a one year high of $238.00. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, equities analysts forecast that Biogen will post 16.42 EPS for the current year.

Institutional Trading of Biogen

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares during the last quarter. Norges Bank acquired a new position in shares of Biogen in the 4th quarter valued at $355,569,000. Van ECK Associates Corp raised its stake in Biogen by 977.9% in the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after acquiring an additional 967,523 shares during the last quarter. Invesco Ltd. lifted its position in Biogen by 30.6% during the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after acquiring an additional 499,074 shares during the period. Finally, FMR LLC grew its stake in Biogen by 98.7% during the 4th quarter. FMR LLC now owns 757,570 shares of the biotechnology company’s stock valued at $115,848,000 after purchasing an additional 376,356 shares during the last quarter. Hedge funds and other 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.