Biogen (NASDAQ:BIIB) Upgraded at StockNews.com

StockNews.com upgraded shares of Biogen (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a research report report published on Friday morning.

BIIB has been the topic of a number of other reports. Royal Bank of Canada decreased their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Wedbush decreased their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. UBS Group lowered their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and cut their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Bank of America restated a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Sixteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $242.68.

Biogen Trading Down 0.6 %

Shares of Biogen stock opened at $146.47 on Friday. The company’s 50-day moving average price is $167.48 and its 200-day moving average price is $195.60. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.83 and a beta of -0.08. Biogen has a 12-month low of $145.07 and a 12-month high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $4.36 EPS. On average, equities analysts expect that Biogen will post 16.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after acquiring an additional 5,270 shares in the last quarter. Exome Asset Management LLC bought a new stake in shares of Biogen during the 3rd quarter valued at about $2,573,000. Oddo BHF Asset Management Sas purchased a new position in shares of Biogen during the third quarter valued at about $1,383,000. Inspire Trust Co. N.A. increased its position in shares of Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after buying an additional 4,025 shares during the period. Finally, Synovus Financial Corp lifted its holdings in Biogen by 6.0% in the third quarter. Synovus Financial Corp now owns 14,462 shares of the biotechnology company’s stock worth $2,803,000 after buying an additional 821 shares during the period. 87.93% of the stock is currently owned by institutional investors.

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.