Biogen (BIIB) Downgraded to Hold at BidaskClub

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BidaskClub lowered shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a report published on Friday.

Several other brokerages have also recently weighed in on BIIB. Cantor Fitzgerald set a $293.00 price target on shares of Biogen and gave the company a hold rating in a research report on Wednesday, July 25th. UBS Group raised their price target on shares of Biogen from $354.00 to $395.00 and gave the company a buy rating in a research report on Thursday, July 26th. Citigroup raised their price target on shares of Biogen to $483.00 and gave the company a positive rating in a research report on Thursday, July 26th. Barclays raised their price target on shares of Biogen from $295.00 to $320.00 and gave the company an equal weight rating in a research report on Wednesday, July 25th. Finally, Robert W. Baird raised their price target on shares of Biogen from $323.00 to $348.00 and gave the company a neutral rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $382.89.

NASDAQ BIIB traded down $9.74 during trading hours on Friday, hitting $320.41. The company’s stock had a trading volume of 1,813,941 shares, compared to its average volume of 1,285,542. Biogen has a 52 week low of $249.17 and a 52 week high of $388.67. The stock has a market cap of $66.51 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.28 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.06 and a current ratio of 2.36.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.22 by $0.58. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the firm earned $5.04 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, sell-side analysts predict that Biogen will post 25.31 EPS for the current year.

In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the executive vice president now owns 4,281 shares in the company, valued at approximately $1,498,350. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.29% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Rainier Group Investment Advisory LLC purchased a new stake in shares of Biogen during the 1st quarter worth approximately $100,000. NEXT Financial Group Inc purchased a new stake in shares of Biogen during the 3rd quarter worth approximately $133,000. Adviser Investments LLC increased its stake in shares of Biogen by 745.7% during the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 343 shares during the last quarter. Kaizen Advisory LLC increased its stake in shares of Biogen by 145.8% during the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 296 shares during the last quarter. Finally, Gs Investments Inc. purchased a new stake in shares of Biogen during the 2nd quarter worth approximately $145,000. Institutional investors own 87.55% of the company’s stock.

Biogen Company Profile

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

Further Reading: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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