Biogen (NASDAQ:BIIB) Given Neutral Rating at Piper Sandler

Piper Sandler restated their neutral rating on shares of Biogen (NASDAQ:BIIB) in a report published on Tuesday morning,Benzinga reports. Piper Sandler currently has a $135.00 price objective on the biotechnology company’s stock, down from their previous price objective of $138.00.

A number of other analysts have also issued reports on the company. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Citigroup reduced their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group cut their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target 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. Finally, Oppenheimer reduced their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $211.85.

Biogen Price Performance

BIIB stock opened at $137.08 on Tuesday. Biogen has a 52-week low of $128.51 and a 52-week high of $238.00. The business has a fifty day moving average of $145.71 and a two-hundred day moving average of $171.46. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, research analysts anticipate that Biogen will post 15.84 earnings per share for the current year.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently made changes to their positions in BIIB. Mackenzie Financial Corp lifted its stake in Biogen by 140.3% in the fourth quarter. Mackenzie Financial Corp now owns 33,846 shares of the biotechnology company’s stock valued at $5,176,000 after buying an additional 19,759 shares during the last quarter. Forum Financial Management LP grew its position in Biogen by 26.5% during the 4th quarter. Forum Financial Management LP now owns 3,804 shares of the biotechnology company’s stock worth $582,000 after purchasing an additional 796 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Biogen by 20.4% in the fourth quarter. Toronto Dominion Bank now owns 72,671 shares of the biotechnology company’s stock valued at $11,111,000 after buying an additional 12,301 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Biogen during the fourth quarter worth about $5,236,000. Finally, Vise Technologies Inc. acquired a new position in Biogen in the 4th quarter valued at about $250,000. 87.93% of the stock is owned by hedge funds and other 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.