BidaskClub Upgrades Biogen (NASDAQ:BIIB) to Hold

BidaskClub upgraded shares of Biogen (NASDAQ:BIIB) from a sell rating to a hold rating in a research report released on Saturday, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein raised shares of Biogen from a market perform rating to an outperform rating in a research note on Tuesday, October 29th. Canaccord Genuity upped their price objective on shares of Biogen from $285.00 to $305.00 and gave the company a hold rating in a research note on Wednesday, October 23rd. Bank of America upped their price objective on shares of Biogen from $200.00 to $235.00 and gave the company an underperform rating in a research note on Wednesday, October 23rd. Morgan Stanley upped their price objective on shares of Biogen from $212.00 to $262.00 and gave the company an underweight rating in a research note on Wednesday, October 23rd. Finally, Cowen upped their price objective on shares of Biogen from $275.00 to $325.00 and gave the company an outperform rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and ten have given a buy rating to the stock. Biogen has an average rating of Hold and a consensus target price of $291.28.

Shares of NASDAQ BIIB opened at $303.06 on Friday. Biogen has a 12-month low of $215.77 and a 12-month high of $344.00. The stock has a market cap of $53.97 billion, a PE ratio of 11.57, a P/E/G ratio of 1.62 and a beta of 1.07. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $271.09 and a 200 day moving average of $241.29.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.27 by $0.90. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the company earned $7.40 EPS. Biogen’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Biogen will post 33.14 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of BIIB. Trustcore Financial Services LLC boosted its holdings in Biogen by 152.3% in the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 67 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in Biogen in the 3rd quarter valued at about $30,000. Ruggie Capital Group acquired a new position in Biogen in the 2nd quarter valued at about $33,000. JJJ Advisors Inc. acquired a new position in Biogen in the 2nd quarter valued at about $35,000. Finally, Next Capital Management LLC boosted its holdings in Biogen by 101.3% in the 2nd quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 87.47% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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