Biogen (NASDAQ:BIIB) Earns Hold Rating from Needham & Company LLC

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

BIIB has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Sanford C. Bernstein started coverage on Biogen in a research report on Tuesday. They set a “market perform” rating and a $160.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Morgan Stanley cut Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Finally, Oppenheimer decreased their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Seventeen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $220.12.

Biogen Price Performance

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

Biogen (NASDAQ:BIIB) last announced its quarterly 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 16.81%. As a group, equities analysts expect that Biogen will post 16.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Biogen

Several institutional investors have recently modified their holdings of BIIB. Quadrant Capital Group LLC lifted its position in Biogen by 64.8% in the 4th quarter. Quadrant Capital Group LLC now owns 669 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 263 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Biogen by 33.3% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 24,000 shares of the biotechnology company’s stock worth $3,670,000 after buying an additional 6,000 shares during the period. Aviva PLC boosted its position in shares of Biogen by 373.4% during the fourth quarter. Aviva PLC now owns 87,731 shares of the biotechnology company’s stock worth $13,416,000 after buying an additional 69,199 shares during the period. Rhenman & Partners Asset Management AB grew its holdings in Biogen by 84.4% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 123,700 shares of the biotechnology company’s stock worth $18,916,000 after buying an additional 56,600 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Biogen in the 4th quarter valued at approximately $6,811,000. 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.