Bank of America Reiterates “Neutral” Rating for Biogen (NASDAQ:BIIB)

Bank of America reiterated their neutral rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Tuesday, MarketBeat.com reports. Bank of America currently has a $178.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on the company. Robert W. Baird upped their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a report on Monday, November 18th. Wolfe Research assumed coverage on shares of Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, TD Cowen dropped their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Fourteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

Biogen Stock Down 0.1 %

NASDAQ BIIB opened at $156.32 on Tuesday. The stock has a 50 day moving average price of $173.83 and a 200-day moving average price of $199.92. Biogen has a one year low of $153.62 and a one year high of $268.30. 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 company has a market capitalization of $22.78 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.49 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the company posted $4.36 EPS. As a group, equities analysts predict that Biogen will post 16.44 EPS for the current fiscal year.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its position in Biogen by 10.3% during the second quarter. Sequoia Financial Advisors LLC now owns 2,582 shares of the biotechnology company’s stock valued at $599,000 after purchasing an additional 241 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Biogen by 1.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,122 shares of the biotechnology company’s stock valued at $1,419,000 after buying an additional 64 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Biogen by 6.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,513 shares of the biotechnology company’s stock worth $814,000 after buying an additional 218 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of Biogen by 12.1% during the 2nd quarter. Westside Investment Management Inc. now owns 2,414 shares of the biotechnology company’s stock worth $560,000 after acquiring an additional 260 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 127 shares during the last quarter. 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.