Biogen (NASDAQ:BIIB) Earns Peer Perform Rating from Analysts at Wolfe Research

Research analysts at Wolfe Research initiated coverage on shares of Biogen (NASDAQ:BIIB) in a report issued on Friday, Marketbeat.com reports. The brokerage set a “peer perform” rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the company. Scotiabank lowered their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Mizuho reduced their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. UBS Group dropped their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, Oppenheimer reduced their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.96.

Biogen Trading Down 3.0 %

Shares of BIIB opened at $159.99 on Friday. 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 12 month low of $159.60 and a 12 month high of $268.30. The stock has a market cap of $23.31 billion, a PE ratio of 14.45, a P/E/G ratio of 1.57 and a beta of -0.06. The stock’s 50-day moving average is $185.99 and its two-hundred day moving average is $207.38.

Biogen (NASDAQ:BIIB) last issued 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. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the company earned $4.36 earnings per share. Biogen’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts forecast that Biogen will post 16.4 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd grew its stake in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Biogen during the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen during the third quarter worth approximately $33,000. EntryPoint Capital LLC acquired a new position in Biogen in the first quarter worth approximately $36,000. Finally, Versant Capital Management Inc grew its position in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after buying an additional 85 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

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.