Biogen (NASDAQ:BIIB) Given “Hold” Rating at Needham & Company LLC

Biogen (NASDAQ:BIIB)‘s stock had its “hold” rating restated by Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

Other equities analysts also recently issued reports about the stock. Bank Of America (Bofa) cut their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Citigroup reduced their price objective on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Scotiabank cut their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial lowered their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, BMO Capital Markets cut their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $213.15.

Biogen Trading Down 1.9 %

NASDAQ:BIIB opened at $116.98 on Wednesday. The stock has a market capitalization of $17.12 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.51 and a beta of 0.06. The firm has a fifty day simple moving average of $135.71 and a two-hundred day simple moving average of $152.96. 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 12 month low of $110.04 and a 12 month high of $238.00.

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

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

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

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.