Biogen (NASDAQ:BIIB) Upgraded to “Strong-Buy” at StockNews.com

Biogen (NASDAQ:BIIB) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

A number of other equities analysts have also weighed in on BIIB. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Wells Fargo & Company decreased their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Mizuho dropped their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada boosted their target price on Biogen from $282.00 to $292.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Piper Sandler dropped their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.35.

Biogen Trading Up 0.0 %

NASDAQ BIIB opened at $204.84 on Monday. Biogen has a 12 month low of $189.44 and a 12 month high of $270.50. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average price is $214.93 and its 200-day moving average price is $216.90. The stock has a market cap of $29.82 billion, a P/E ratio of 25.57, a P/E/G ratio of 2.06 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.02 EPS. As a group, equities analysts forecast that Biogen will post 16.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Biogen by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,309 shares of the biotechnology company’s stock worth $1,694,000 after purchasing an additional 543 shares during the last quarter. Systematic Financial Management LP increased its stake in Biogen by 12.3% in the 2nd quarter. Systematic Financial Management LP now owns 4,670 shares of the biotechnology company’s stock worth $1,083,000 after acquiring an additional 510 shares during the last quarter. Creative Planning raised its holdings in shares of Biogen by 32.4% during the 2nd quarter. Creative Planning now owns 18,274 shares of the biotechnology company’s stock worth $4,236,000 after acquiring an additional 4,473 shares in the last quarter. Kathmere Capital Management LLC bought a new position in shares of Biogen during the 2nd quarter valued at approximately $190,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Biogen in the second quarter valued at $236,000. 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.