Biogen (NASDAQ:BIIB) Upgraded at StockNews.com

Biogen (NASDAQ:BIIB) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

BIIB has been the subject of several other reports. Raymond James reiterated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. UBS Group decreased their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley cut shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Finally, Mizuho lowered their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Sixteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average price target of $242.68.

Biogen Trading Down 0.6 %

Shares of NASDAQ:BIIB opened at $146.47 on Friday. The firm has a market capitalization of $21.34 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. The business’s 50 day moving average price is $167.48 and its 200-day moving average price is $195.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen has a 1 year low of $145.07 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for 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 company’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $4.36 earnings per share. On average, equities research analysts forecast that Biogen will post 16.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biogen

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position 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 purchasing an additional 5,270 shares during the period. Exome Asset Management LLC acquired a new stake in shares of Biogen in the third quarter valued at $2,573,000. Oddo BHF Asset Management Sas purchased a new stake in shares of Biogen in the 3rd quarter valued at $1,383,000. Inspire Trust Co. N.A. lifted its stake in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in Biogen by 6.0% during the 3rd quarter. Synovus Financial Corp now owns 14,462 shares of the biotechnology company’s stock valued at $2,803,000 after acquiring an additional 821 shares during the period. Hedge funds and other 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.