Biogen’s (BIIB) Outperform Rating Reiterated at William Blair

William Blair reissued their outperform rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Monday,RTT News reports.

A number of other analysts have also recently commented on the company. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Mizuho reduced their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Barclays lowered their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wedbush reduced their price target on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Finally, Royal Bank of Canada lowered their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $230.00.

Biogen Stock Down 1.4 %

Shares of Biogen stock opened at $141.00 on Monday. Biogen has a 52-week low of $140.87 and a 52-week high of $252.17. The company has a 50 day moving average of $156.24 and a 200 day moving average of $186.11. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.55 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.69 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) 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%. Biogen’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.36 EPS. As a group, research analysts forecast that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Trading of Biogen

A number of institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of 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 approximately $33,000. Venturi Wealth Management LLC raised its position in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares during the last quarter. Versant Capital Management Inc lifted its stake in Biogen by 228.7% in the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 279 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Biogen during the third quarter worth $74,000. 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.