Biogen’s (BIIB) “Hold” Rating Reaffirmed at Needham & Company LLC

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

Several other equities research analysts have also recently commented on BIIB. Oppenheimer dropped their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Piper Sandler downgraded shares of Biogen from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. TD Cowen decreased their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Citigroup cut their price objective on Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and an average price target of $220.12.

Biogen Trading Down 4.3 %

Biogen stock opened at $133.43 on Thursday. Biogen has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market capitalization of $19.44 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The firm has a 50 day simple moving average of $147.73 and a 200-day simple moving average of $174.05.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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 16.81%. As a group, equities research analysts expect that Biogen will post 16.42 EPS for the current fiscal year.

Institutional Trading of Biogen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Norges Bank acquired a new position in Biogen during the fourth quarter valued at approximately $355,569,000. Van ECK Associates Corp grew its holdings in Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after purchasing an additional 967,523 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares during the period. Finally, Amundi lifted its stake in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.