Biogen (NASDAQ:BIIB) Stock Rating Reaffirmed by Raymond James

Raymond James reiterated their hold rating on shares of Biogen (NASDAQ:BIIB) in a research report report published on Friday, Stock Target Advisor reports.

Several other analysts also recently weighed in on the company. Mizuho reiterated a hold rating and set a $235.00 price target on shares of Biogen in a research note on Tuesday, October 22nd. ValuEngine upgraded shares of Biogen from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Leerink Swann upgraded Biogen from a market perform rating to an outperform rating in a research report on Wednesday, October 23rd. Svb Leerink raised shares of Biogen from a market perform rating to an outperform rating and upped their target price for the stock from $256.00 to $350.00 in a report on Wednesday, October 23rd. Finally, BMO Capital Markets upped their target price on Biogen from $250.00 to $297.00 and gave the company a market perform rating in a report on Wednesday, October 23rd. Five analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $289.69.

Shares of Biogen stock opened at $300.26 on Friday. The company has a market capitalization of $54.18 billion, a PE ratio of 11.46, a P/E/G ratio of 1.14 and a beta of 1.08. The company has a 50-day simple moving average of $285.65 and a two-hundred day simple moving average of $244.76. Biogen has a one year low of $215.77 and a one year high of $344.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.74 and a current ratio of 1.91.

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

In other Biogen news, Director Brian S. Posner sold 1,055 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $292.35, for a total transaction of $308,429.25. Following the completion of the transaction, the director now owns 6,995 shares in the company, valued at approximately $2,044,988.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bourgeon Capital Management LLC purchased a new stake in Biogen in the third quarter valued at $30,000. Ruggie Capital Group acquired a new stake in shares of Biogen during the second quarter worth about $33,000. Resources Management Corp CT ADV purchased a new stake in shares of Biogen in the 3rd quarter valued at about $34,000. Next Capital Management LLC lifted its holdings in shares of 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. Finally, Sandy Spring Bank lifted its holdings in shares of Biogen by 43.5% in the 3rd quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

About Biogen

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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