Biogen (NASDAQ:BIIB) Cut to “Hold” at Argus

Argus cut shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a report released on Friday, MarketBeat.com reports.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. The Goldman Sachs Group decreased their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada lowered their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Finally, Scotiabank lowered their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Eighteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average target price of $213.33.

Biogen Price Performance

NASDAQ BIIB opened at $122.98 on Friday. The company has a 50-day moving average price of $140.68 and a two-hundred day moving average price of $157.34. The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen has a 52 week low of $122.77 and a 52 week high of $238.00.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts forecast that Biogen will post 15.83 EPS for the current year.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s 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 transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Larson Financial Group LLC lifted its position in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen during the fourth quarter worth $25,000. Colonial Trust Co SC raised its holdings in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 186 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Biogen during the fourth quarter valued at $32,000. Finally, SRS Capital Advisors Inc. purchased a new position in Biogen in the fourth quarter valued at about $33,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.