Biogen (NASDAQ:BIIB) Receives “Outperform” Rating from William Blair

Biogen (NASDAQ:BIIB)‘s stock had its “outperform” rating reissued by William Blair in a report released on Monday,RTT News reports.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a report on Thursday, October 31st. Piper Sandler lowered shares of Biogen from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. Finally, Wedbush lowered their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $230.00.

Biogen Trading Up 0.9 %

Shares of NASDAQ:BIIB traded up $1.36 on Monday, reaching $150.18. 1,142,723 shares of the company traded hands, compared to its average volume of 1,164,875. The business’s 50-day simple moving average is $157.38 and its 200 day simple moving average is $187.29. Biogen has a 52 week low of $145.07 and a 52 week high of $252.17. The stock has a market capitalization of $21.88 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.36 earnings per share. As a group, equities analysts anticipate that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Biogen during the second quarter valued at approximately $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Biogen during the third quarter valued at approximately $33,000. Venturi Wealth Management LLC boosted its position in shares of Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Biogen by 228.7% in the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 279 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of Biogen in the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

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.