Biogen’s (BIIB) Outperform Rating Reiterated at William Blair

Biogen (NASDAQ:BIIB)‘s stock had its “outperform” rating reissued by analysts at William Blair in a research report issued to clients and investors on Monday,RTT News reports.

Several other brokerages have also issued reports on BIIB. HC Wainwright reaffirmed a “buy” rating and set a $300.00 price target on shares of Biogen in a research note on Thursday, October 31st. Truist Financial cut their target price on shares of Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research note on Monday, December 16th. Finally, BMO Capital Markets cut shares of Biogen from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $230.00 to $164.00 in a research note on Friday, December 20th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $230.00.

Biogen Stock Down 4.7 %

Shares of NASDAQ BIIB opened at $143.06 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market cap of $20.85 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07. Biogen has a 12-month low of $142.42 and a 12-month high of $252.17. The firm’s 50-day simple moving average is $156.24 and its 200 day simple moving average is $186.11.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new stake in Biogen during the 2nd quarter worth about $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen during the third quarter worth about $33,000. Venturi Wealth Management LLC boosted its position in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. FSA Wealth Management LLC bought a new position in Biogen in the third quarter valued at approximately $74,000. Finally, TD Private Client Wealth LLC increased its position in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds 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.