Biogen (NASDAQ:BIIB - Get Free Report) was downgraded by research analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a report released on Monday, Marketbeat Ratings reports. They currently have a $175.00 target price on the biotechnology company's stock. Stifel Nicolaus' price objective suggests a potential upside of 16.64% from the company's previous close.
Other research analysts have also recently issued reports about the company. UBS Group decreased their price target on Biogen from $234.00 to $202.00 and set a "neutral" rating on the stock in a research note on Thursday, October 3rd. Oppenheimer cut their price objective on Biogen from $270.00 to $255.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group lowered Biogen from a "buy" rating to a "hold" rating and reduced their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Wedbush lowered their price objective on Biogen from $210.00 to $205.00 and set a "neutral" rating for the company in a research report on Monday, September 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen currently has a consensus rating of "Moderate Buy" and a consensus price target of $245.32.
Check Out Our Latest Stock Report on Biogen
NASDAQ BIIB opened at $150.03 on Monday. The stock has a fifty day simple moving average of $171.21 and a 200-day simple moving average of $198.16. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market cap of $21.86 billion, a PE ratio of 13.55, a P/E/G ratio of 1.83 and a beta of -0.08. Biogen has a twelve month low of $149.93 and a twelve month high of $268.30.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.43 billion. During the same period last year, the business earned $4.36 earnings per share. The business's revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts anticipate that Biogen will post 16.43 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Biogen during the second quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at approximately $33,000. Blue Trust Inc. boosted its stake in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company's stock valued at $38,000 after buying an additional 127 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 49 shares during the period. Finally, Venturi Wealth Management LLC raised its position in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.
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.
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