Biogen (NASDAQ:BIIB) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Biogen (NASDAQ:BIIB) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $285.00 price objective on the biotechnology company’s stock.

BIIB has been the subject of a number of other research reports. William Blair reiterated an outperform rating on shares of Biogen in a report on Wednesday, July 3rd. Robert W. Baird decreased their target price on Biogen from $316.00 to $294.00 and set an outperform rating on the stock in a report on Monday, July 29th. Piper Sandler dropped their price target on Biogen from $335.00 to $313.00 and set an overweight rating on the stock in a research note on Friday, July 12th. StockNews.com raised shares of Biogen from a buy rating to a strong-buy rating in a research report on Monday. Finally, HC Wainwright reissued a buy rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Biogen has an average rating of Moderate Buy and an average price target of $276.35.

Biogen Stock Up 0.1 %

BIIB stock opened at $204.95 on Wednesday. Biogen has a twelve month low of $189.44 and a twelve month high of $270.50. The company has a market cap of $29.84 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.06 and a beta of -0.04. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $214.54 and a two-hundred day moving average price of $216.81.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The business 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%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the company earned $4.02 earnings per share. Analysts anticipate that Biogen will post 16.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of large investors have recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new stake in shares of Biogen during the 4th quarter worth approximately $26,000. Plato Investment Management Ltd raised its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Rise Advisors LLC bought a new stake in Biogen during the first quarter worth $27,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen in the 2nd quarter valued at $33,000. Finally, Versant Capital Management Inc increased its stake in shares of Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.