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

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

Several other research firms also recently commented on BIIB. William Blair reissued an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Canaccord Genuity Group decreased their price target on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Bank Of America (Bofa) lowered their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. HC Wainwright cut their price objective on shares of Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Citigroup lowered their target price on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of "Hold" and a consensus target price of $200.26.

Biogen Trading Down 0.1 %

Shares of NASDAQ:BIIB opened at $120.93 on Friday. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The business's 50 day moving average price is $130.98 and its 200-day moving average price is $147.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen has a 1 year low of $110.04 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released 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 company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the prior year, the firm earned $3.67 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Biogen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lee Danner & Bass Inc. purchased a new stake in Biogen during the 4th quarter worth approximately $25,000. Larson Financial Group LLC increased its position in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 141 shares during the period. Colonial Trust Co SC raised its stake in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 186 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Biogen in the first quarter valued at $26,000. Finally, SRS Capital Advisors Inc. acquired a new position in Biogen during the 4th quarter worth $33,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.

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