Biogen (NASDAQ:BIIB) Receives “Hold” Rating from Needham & Company LLC

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

Several other research firms have also commented on BIIB. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Sanford C. Bernstein initiated coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target on the stock. BMO Capital Markets cut their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Bank Of America (Bofa) lowered their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Citigroup cut their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $211.37.

Biogen Trading Down 0.6 %

Shares of Biogen stock opened at $118.84 on Friday. The stock has a market cap of $17.40 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The firm has a fifty day moving average price of $132.47 and a 200 day moving average price of $149.14. Biogen has a 1 year low of $110.04 and a 1 year high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data 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%. Equities research analysts predict that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biogen

A number of institutional investors have recently bought and sold shares of the company. Mather Group LLC. increased its holdings in shares of Biogen by 60.1% during the 1st quarter. Mather Group LLC. now owns 2,767 shares of the biotechnology company’s stock worth $379,000 after buying an additional 1,039 shares during the last quarter. Westside Investment Management Inc. increased its stake in Biogen by 97.0% during the first quarter. Westside Investment Management Inc. now owns 2,660 shares of the biotechnology company’s stock worth $359,000 after acquiring an additional 1,310 shares during the last quarter. Amalgamated Bank raised its position in Biogen by 0.9% in the first quarter. Amalgamated Bank now owns 28,454 shares of the biotechnology company’s stock valued at $3,894,000 after purchasing an additional 253 shares during the period. Waterfront Wealth Inc. acquired a new position in shares of Biogen in the 1st quarter valued at $218,000. Finally, Hills Bank & Trust Co grew its holdings in shares of Biogen by 4.1% during the 1st quarter. Hills Bank & Trust Co now owns 4,757 shares of the biotechnology company’s stock worth $651,000 after purchasing an additional 187 shares during the period. 87.93% of the stock is 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.