Biogen (NASDAQ:BIIB) Downgraded to Market Perform Rating by BMO Capital Markets

Biogen (NASDAQ:BIIB) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Friday,Finviz reports. They presently have a $164.00 price target on the biotechnology company’s stock, down from their prior price target of $230.00. BMO Capital Markets’ price target points to a potential upside of 11.27% from the company’s previous close.

Several other analysts have also weighed in on BIIB. Jefferies Financial Group lowered Biogen from a “buy” rating to a “hold” rating and lowered their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Mizuho dropped their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Oppenheimer reduced their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research note on Monday, November 18th. Sixteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $242.68.

Biogen Trading Up 0.4 %

Shares of Biogen stock opened at $147.39 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market cap of $21.48 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. Biogen has a 52-week low of $145.24 and a 52-week high of $268.30. The company’s 50-day simple moving average is $168.32 and its 200-day simple moving average is $196.45.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business earned $4.36 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Biogen will post 16.43 earnings per share for the current year.

Institutional Trading of Biogen

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 127 shares during the period. Fifth Third Bancorp grew its stake in shares of Biogen by 18.5% during the second quarter. Fifth Third Bancorp now owns 3,536 shares of the biotechnology company’s stock valued at $820,000 after acquiring an additional 551 shares in the last quarter. &PARTNERS purchased a new stake in shares of Biogen during the second quarter worth about $291,000. Retirement Systems of Alabama lifted its stake in shares of Biogen by 0.4% in the second quarter. Retirement Systems of Alabama now owns 32,117 shares of the biotechnology company’s stock worth $7,445,000 after acquiring an additional 136 shares in the last quarter. Finally, Hills Bank & Trust Co boosted its holdings in Biogen by 4.9% in the second quarter. Hills Bank & Trust Co now owns 4,350 shares of the biotechnology company’s stock valued at $1,008,000 after purchasing an additional 202 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.