Biogen (NASDAQ:BIIB) Given Hold Rating at Needham & Company LLC

Biogen (NASDAQ:BIIB)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

Other equities analysts also recently issued reports about the stock. Citigroup cut their price target on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Bank Of America (Bofa) cut their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Mizuho cut their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $211.96.

Biogen Stock Performance

Biogen stock opened at $137.33 on Thursday. The company’s 50-day moving average price is $147.31 and its 200-day moving average price is $173.80. Biogen has a twelve month low of $128.51 and a twelve month high of $238.00. 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 $20.01 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. On average, equities research analysts forecast that Biogen will post 16.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Biogen during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in Biogen during the 4th quarter valued at approximately $32,000. Ashton Thomas Securities LLC acquired a new position in Biogen during the 3rd quarter valued at approximately $33,000. Finally, SRS Capital Advisors Inc. acquired a new position in Biogen during the 4th quarter valued at approximately $33,000. 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.