Biogen (NASDAQ:BIIB) PT Lowered to $251.00

Biogen (NASDAQ:BIIB) had its price objective trimmed by Mizuho from $277.00 to $251.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

BIIB has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $270.00 to $240.00 and set a neutral rating for the company in a report on Thursday, April 11th. William Blair reissued an outperform rating on shares of Biogen in a research report on Wednesday, July 3rd. HC Wainwright reaffirmed a buy rating and issued a $300.00 price target on shares of Biogen in a report on Thursday, May 23rd. Robert W. Baird decreased their price objective on Biogen from $316.00 to $294.00 and set an outperform rating on the stock in a report on Monday, July 29th. Finally, StockNews.com upgraded Biogen from a hold rating to a buy rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen has a consensus rating of Moderate Buy and a consensus target price of $276.48.

Biogen Stock Up 2.1 %

Biogen stock opened at $204.07 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.32. The firm has a fifty day moving average price of $223.63 and a two-hundred day moving average price of $221.84. The firm has a market cap of $29.71 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 2.09 and a beta of -0.04. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $276.52.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm posted $4.02 EPS. The company’s revenue was up .4% on a year-over-year basis. As a group, analysts forecast that Biogen will post 15.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bleakley Financial Group LLC lifted its holdings in Biogen by 13.4% during the fourth quarter. Bleakley Financial Group LLC now owns 2,291 shares of the biotechnology company’s stock worth $593,000 after acquiring an additional 270 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Biogen by 30.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,668 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 625 shares during the period. Moody Aldrich Partners LLC increased its stake in Biogen by 42.7% during the 4th quarter. Moody Aldrich Partners LLC now owns 3,610 shares of the biotechnology company’s stock worth $934,000 after purchasing an additional 1,080 shares in the last quarter. Cerity Partners LLC raised its holdings in Biogen by 15.5% during the 4th quarter. Cerity Partners LLC now owns 2,678 shares of the biotechnology company’s stock worth $693,000 after buying an additional 360 shares during the period. Finally, Clarius Group LLC lifted its stake in Biogen by 5.6% in the fourth quarter. Clarius Group LLC now owns 1,123 shares of the biotechnology company’s stock valued at $291,000 after buying an additional 60 shares in the last quarter. 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.