Biogen (NASDAQ:BIIB) Rating Lowered to “Hold” at Jefferies Financial Group

Biogen (NASDAQ:BIIB) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Monday,Briefing.com Automated Import reports. They presently have a $180.00 price objective on the biotechnology company’s stock, down from their prior price objective of $250.00. Jefferies Financial Group’s price target indicates a potential upside of 14.08% from the stock’s current price.

A number of other research firms have also issued reports on BIIB. Wedbush dropped their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Royal Bank of Canada dropped their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. reduced their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, HC Wainwright restated a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average price target of $253.08.

Biogen Price Performance

Biogen stock opened at $157.78 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company’s fifty day moving average price is $174.58 and its 200 day moving average price is $200.35. The stock has a market capitalization of $22.99 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.49 and a beta of -0.08. Biogen has a 1 year low of $153.62 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business earned $4.36 EPS. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Biogen will post 16.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several large investors have recently modified their holdings of the company. Oddo BHF Asset Management Sas purchased a new stake in Biogen in the 3rd quarter valued at $1,383,000. Inspire Trust Co. N.A. grew its holdings in shares of Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Biogen by 6.0% during the third quarter. Synovus Financial Corp now owns 14,462 shares of the biotechnology company’s stock worth $2,803,000 after buying an additional 821 shares during the last quarter. Tidal Investments LLC raised its stake in Biogen by 13.6% during the 3rd quarter. Tidal Investments LLC now owns 9,012 shares of the biotechnology company’s stock valued at $1,747,000 after acquiring an additional 1,082 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Biogen in the 3rd quarter valued at approximately $150,000. 87.93% of the stock is owned by institutional investors and hedge funds.

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.