Biogen (NASDAQ:BIIB) Rating Increased to Strong-Buy at StockNews.com

Biogen (NASDAQ:BIIB) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

BIIB has been the topic of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Oppenheimer lowered their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Barclays dropped their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Finally, TD Cowen dropped their price target on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.68.

Biogen Stock Performance

NASDAQ:BIIB traded down $0.92 during mid-day trading on Friday, hitting $146.47. 5,775,622 shares of the stock were exchanged, compared to its average volume of 1,216,867. The firm’s 50-day simple moving average is $167.48 and its 200 day simple moving average is $195.87. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. Biogen has a fifty-two week low of $145.07 and a fifty-two week high of $268.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

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 the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.36 earnings per share. As a group, equities analysts anticipate that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BIIB. Itau Unibanco Holding S.A. bought a new position in Biogen during the 2nd quarter worth $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen in the third quarter valued at about $33,000. Blue Trust Inc. raised its position in shares of Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 127 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the period. Finally, McClarren Financial Advisors Inc. boosted its holdings in Biogen by 11,450.0% in the second quarter. McClarren Financial Advisors Inc. now owns 231 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 229 shares during the last quarter. 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.