Biogen (NASDAQ:BIIB) Stock Rating Reaffirmed by Cowen
Biogen (NASDAQ:BIIB)'s stock had its "buy" rating reaffirmed by investment analysts at Cowen in a research note issued to investors on Tuesday, AnalystRatings.com reports. They presently have a $275.00 price target on the biotechnology company's stock. Cowen's price objective would indicate a potential downside of 9.41% from the company's current price.
Several other research analysts also recently commented on BIIB. Mizuho reaffirmed a "hold" rating and issued a $235.00 price target on shares of Biogen in a report on Tuesday. BidaskClub downgraded shares of Biogen from a "hold" rating to a "sell" rating in a report on Saturday, October 12th. Bank of America began coverage on shares of Biogen in a report on Wednesday, October 16th. They issued an "underperform" rating and a $200.00 price target for the company. ValuEngine raised shares of Biogen from a "strong sell" rating to a "sell" rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley increased their price target on shares of Biogen from $211.00 to $212.00 and gave the company an "underweight" rating in a report on Friday, October 11th. Five investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company's stock. Biogen currently has a consensus rating of "Hold" and an average target price of $263.52.
BIIB opened at $303.58 on Tuesday. The firm has a 50-day simple moving average of $228.35 and a two-hundred day simple moving average of $230.93. Biogen has a 52 week low of $215.77 and a 52 week high of $344.00. The company has a market capitalization of $40.59 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the consensus estimate of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the firm earned $5.80 EPS. The business's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Biogen will post 32.38 earnings per share for the current year.
Large investors have recently modified their holdings of the company. Trustcore Financial Services LLC increased its position in shares of Biogen by 152.3% during the second quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company's stock worth $26,000 after acquiring an additional 67 shares during the period. Ruggie Capital Group purchased a new position in shares of Biogen during the second quarter worth approximately $33,000. JJJ Advisors Inc. purchased a new position in shares of Biogen during the second quarter worth approximately $35,000. Next Capital Management LLC increased its position in shares of Biogen by 101.3% during the second quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 76 shares during the period. Finally, Lenox Wealth Management Inc. increased its position in shares of Biogen by 131.9% during the second quarter. Lenox Wealth Management Inc. now owns 167 shares of the biotechnology company's stock worth $39,000 after acquiring an additional 95 shares during the period. 86.31% of the stock is currently owned by institutional investors and hedge funds.Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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Biogen (NASDAQ:BIIB)'s stock had its "hold" rating reissued by equities research analysts at Mizuho in a research report issued on Tuesday, AnalystRatings.com reports. They currently have a $235.00 target price on the biotechnology company's stock.
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