Biogen (NASDAQ:BIIB) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Biogen (NASDAQ:BIIB) from a sell rating to a hold rating in a research report report published on Thursday morning, BidAskClub reports.

Several other analysts also recently weighed in on BIIB. Mizuho reiterated a hold rating on shares of Biogen in a research report on Thursday, July 25th. Wedbush started coverage on Biogen in a report on Wednesday, May 22nd. They issued a neutral rating and a $231.00 price objective for the company. Royal Bank of Canada set a $242.00 price objective on Biogen and gave the company a hold rating in a report on Friday, September 6th. Cowen restated a buy rating and issued a $275.00 price objective on shares of Biogen in a report on Tuesday, July 30th. Finally, Credit Suisse Group started coverage on Biogen in a report on Monday, May 20th. They issued an underperform rating and a $198.00 price objective for the company. Three analysts have rated the stock with a sell rating, twenty-four have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $270.00.

Shares of NASDAQ:BIIB traded up $4.32 on Thursday, hitting $236.63. 1,687,099 shares of the company’s stock were exchanged, compared to its average volume of 1,801,268. Biogen has a 12 month low of $215.77 and a 12 month high of $358.41. The stock has a market capitalization of $42.98 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.86 and a beta of 1.01. The business’s 50 day simple moving average is $231.19 and its two-hundred day simple moving average is $243.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, topping the consensus estimate of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the company earned $5.80 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts forecast that Biogen will post 32.38 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Biogen by 12.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,638 shares of the biotechnology company’s stock worth $19,327,000 after acquiring an additional 9,094 shares during the last quarter. Boston Partners grew its stake in shares of Biogen by 70.1% during the second quarter. Boston Partners now owns 1,569,859 shares of the biotechnology company’s stock worth $367,141,000 after acquiring an additional 647,141 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Biogen by 3.7% during the second quarter. Treasurer of the State of North Carolina now owns 130,482 shares of the biotechnology company’s stock worth $30,516,000 after acquiring an additional 4,674 shares during the last quarter. Nomura Holdings Inc. grew its stake in shares of Biogen by 48.6% during the second quarter. Nomura Holdings Inc. now owns 57,394 shares of the biotechnology company’s stock worth $13,542,000 after acquiring an additional 18,778 shares during the last quarter. Finally, RFG Advisory LLC purchased a new stake in shares of Biogen during the second quarter worth about $421,000. Institutional investors own 86.55% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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