Biogen (NASDAQ:BIIB) Downgraded by StockNews.com

Biogen (NASDAQ:BIIBGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other equities analysts have also recently issued reports on BIIB. Canaccord Genuity Group lowered their price objective on shares of Biogen from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, February 7th. Barclays lowered their price objective on shares of Biogen from $244.00 to $235.00 and set an “equal weight” rating for the company in a research report on Friday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of Biogen from $324.00 to $276.00 and set a “neutral” rating for the company in a research report on Tuesday, December 21st. Canaccord Genuity Group lowered their price objective on shares of Biogen from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, February 7th. Finally, Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $362.00 to $216.00 in a research report on Wednesday, January 12th. Eighteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $287.28.

Shares of BIIB stock traded down $4.13 during midday trading on Monday, hitting $210.62. 868,987 shares of the company were exchanged, compared to its average volume of 1,337,603. The firm has a market capitalization of $30.95 billion, a P/E ratio of 20.25, a PEG ratio of 1.33 and a beta of 0.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.83. The firm’s 50 day moving average price is $210.54 and its two-hundred day moving average price is $237.31. Biogen has a 52 week low of $192.67 and a 52 week high of $468.55.

Biogen (NASDAQ:BIIBGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The biotechnology company reported $3.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.32 by $0.07. Biogen had a net margin of 14.17% and a return on equity of 26.30%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the firm posted $4.58 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. Analysts expect that Biogen will post 15.52 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Avondale Wealth Management purchased a new stake in shares of Biogen in the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Biogen in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in Biogen during the fourth quarter worth about $27,000. Amplius Wealth Advisors LLC purchased a new stake in Biogen during the fourth quarter worth about $28,000. Finally, Evolution Wealth Advisors LLC increased its holdings in Biogen by 96.7% during the third quarter. Evolution Wealth Advisors LLC now owns 120 shares of the biotechnology company’s stock worth $34,000 after buying an additional 59 shares during the last quarter. 82.10% of the stock is currently owned by institutional investors and hedge funds.

About Biogen (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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