Biogen's (BIIB) "Hold" Rating Reaffirmed at Needham & Company LLC

Biogen (NASDAQ:BIIB - Get Free Report)'s stock had its "hold" rating restated by Needham & Company LLC in a report issued on Thursday,Benzinga reports.

A number of other research analysts have also weighed in on BIIB. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target on the stock. in a research report on Monday, April 28th. Mizuho reduced their price objective on Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler lowered their price objective on Biogen from $135.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group dropped their target price on Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Hsbc Global Res lowered Biogen from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Biogen currently has a consensus rating of "Hold" and an average target price of $188.19.

Biogen Price Performance

BIIB traded down $0.75 during trading on Thursday, reaching $132.31. 1,147,471 shares of the company traded hands, compared to its average volume of 1,422,725. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The company has a market cap of $19.39 billion, a P/E ratio of 11.82, a PEG ratio of 1.51 and a beta of 0.14. The firm has a fifty day simple moving average of $123.15 and a 200 day simple moving average of $137.95. Biogen has a 12-month low of $110.04 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted 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). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the firm posted $3.67 earnings per share. Biogen's quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Biogen will post 15.83 EPS for the current year.

Institutional Trading of Biogen

A number of institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC boosted its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after buying an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in Biogen during the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Biogen in the 1st quarter valued at $26,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen in the first quarter worth $27,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of Biogen during the first quarter worth $27,000. Institutional investors and hedge funds 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.