Biogen (NASDAQ:BIIB) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a report published on Sunday morning.

Several other research analysts also recently commented on BIIB. Citigroup reiterated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Rothschild & Co Redburn raised their price target on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Robert W. Baird decreased their price target on Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Mizuho increased their price objective on Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Ten investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.46.

Biogen Trading Up 0.5%

Shares of BIIB traded up $0.75 during mid-day trading on Friday, reaching $156.26. The company’s stock had a trading volume of 1,258,571 shares, compared to its average volume of 1,591,511. Biogen has a 52 week low of $110.04 and a 52 week high of $175.86. The stock has a market cap of $22.92 billion, a PE ratio of 14.94, a P/E/G ratio of 1.17 and a beta of 0.10. The company’s fifty day moving average price is $146.06 and its two-hundred day moving average price is $135.01. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, analysts predict that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider owned 5,772 shares in the company, valued at $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Biogen

Large investors have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC purchased a new stake in Biogen in the second quarter worth about $25,000. Vision Financial Markets LLC bought a new position in shares of Biogen in the 1st quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Biogen in the 1st quarter valued at approximately $27,000. Rothschild Investment LLC boosted its position in shares of Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 88 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Biogen during the first quarter valued at approximately $29,000. Institutional investors own 87.93% of the company’s stock.

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.