Biogen (NASDAQ:BIIB) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus lowered shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a research report sent to investors on Monday, MarketBeat.com reports. Stifel Nicolaus currently has $175.00 target price on the biotechnology company’s stock.

BIIB has been the topic of several other reports. BMO Capital Markets dropped their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. TD Cowen lowered their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Raymond James restated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $245.32.

Biogen Price Performance

NASDAQ BIIB opened at $150.49 on Monday. Biogen has a 1 year low of $148.60 and a 1 year high of $268.30. The business’s fifty day moving average is $170.55 and its two-hundred day moving average is $197.67. The stock has a market capitalization of $21.93 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.83 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last announced its 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 business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.36 earnings per share. On average, research analysts forecast that Biogen will post 16.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its position in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares during the period. Grandfield & Dodd LLC increased its position in Biogen by 5.2% during the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 62 shares during the period. Quintet Private Bank Europe S.A. raised its stake in Biogen by 9.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Biogen by 1.1% during 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 purchasing an additional 64 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the period. Institutional investors own 87.93% of the company’s stock.

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.