Biogen (NASDAQ:BIIB) Stock Rating Lowered by Hsbc Global Res

Biogen (NASDAQ:BIIB - Get Free Report) was downgraded by equities researchers at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. William Blair reiterated an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Citigroup reduced their target price on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. HC Wainwright dropped their price target on shares of Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company reduced their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. Finally, Argus cut Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $195.85.

Biogen Stock Performance

Shares of Biogen stock traded up $2.60 during trading hours on Monday, reaching $123.53. The company's stock had a trading volume of 1,460,036 shares, compared to its average volume of 1,355,393. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen has a one year low of $110.04 and a one year high of $238.00. The company's 50 day simple moving average is $130.98 and its 200 day simple moving average is $147.51. The stock has a market cap of $18.08 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.51 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.67 earnings per share. As a group, analysts expect that Biogen will post 15.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently bought and sold shares of the business. Parcion Private Wealth LLC purchased a new stake in shares of Biogen in the first quarter worth approximately $236,000. Victory Capital Management Inc. lifted its position in Biogen by 4.8% in the 1st quarter. Victory Capital Management Inc. now owns 124,756 shares of the biotechnology company's stock worth $17,072,000 after buying an additional 5,723 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Biogen by 106.2% during the 1st quarter. Wealthfront Advisers LLC now owns 3,785 shares of the biotechnology company's stock valued at $518,000 after buying an additional 1,949 shares during the period. Leo Wealth LLC grew its stake in Biogen by 28.0% in the first quarter. Leo Wealth LLC now owns 17,835 shares of the biotechnology company's stock valued at $2,441,000 after purchasing an additional 3,903 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in Biogen by 1,663.4% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company's stock valued at $106,813,000 after purchasing an additional 736,301 shares in the last quarter. Hedge funds and other 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.