Biogen (NASDAQ:BIIB) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Biogen (NASDAQ:BIIB) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage issued a market perform rating and a $160.00 price target on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on BIIB. Wells Fargo & Company lowered their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a report on Monday, December 16th. Mizuho lowered their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Citigroup lowered their price target on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $211.96.

Biogen Stock Up 3.8 %

Shares of BIIB stock opened at $138.45 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm’s 50-day moving average is $147.73 and its 200-day moving average is $174.05. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.65 and a beta of -0.08. Biogen has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Sell-side analysts predict that Biogen will post 16.42 EPS for the current year.

Institutional Trading of Biogen

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Biogen by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock valued at $2,561,238,000 after buying an additional 70,368 shares in the last quarter. State Street Corp boosted its position in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Biogen by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock valued at $563,709,000 after acquiring an additional 82,456 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Biogen by 13,574.7% during the fourth 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 during the last quarter. Finally, Norges Bank bought a new position in shares of Biogen during the fourth quarter valued at $355,569,000. Institutional investors and hedge funds 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.