Biogen (NASDAQ:BIIB) Lowered to Hold Rating by Jefferies Financial Group

Biogen (NASDAQ:BIIB) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Monday, MarketBeat reports. They currently have a $180.00 price target on the biotechnology company’s stock, down from their previous price target of $250.00. Jefferies Financial Group’s target price would indicate a potential upside of 15.15% from the company’s previous close.

BIIB has been the subject of a number of other research reports. Mizuho dropped their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Barclays lowered their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Monday, November 18th. Finally, UBS Group cut their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and an average price target of $249.80.

Biogen Stock Down 0.1 %

BIIB stock opened at $156.32 on Monday. The stock has a market capitalization of $22.78 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.49 and a beta of -0.08. Biogen has a 52 week low of $153.62 and a 52 week high of $268.30. The firm has a 50-day simple moving average of $173.83 and a 200-day simple moving average of $199.92. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.36 earnings per share. Equities analysts forecast that Biogen will post 16.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Primecap Management Co. CA raised its holdings in shares of Biogen by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares in the last quarter. State Street Corp raised its stake in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Geode Capital Management LLC raised its stake in Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after buying an additional 47,055 shares in the last quarter. RA Capital Management L.P. boosted its position in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after acquiring an additional 202,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Biogen by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after acquiring an additional 18,905 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.