Biogen (NASDAQ:BIIB) Rating Reiterated by Cowen

Cowen restated their buy rating on shares of Biogen (NASDAQ:BIIB) in a report released on Tuesday, July 30th, Stock Target Advisor reports. They currently have a $275.00 target price on the biotechnology company’s stock.

Several other equities analysts also recently commented on the company. Mizuho reiterated a hold rating on shares of Biogen in a research note on Thursday, July 25th. Barclays dropped their target price on Biogen from $250.00 to $245.00 and set an equal weight rating on the stock in a research report on Thursday, May 9th. BidaskClub downgraded Biogen from a hold rating to a sell rating in a research report on Tuesday, July 30th. Oppenheimer set a $290.00 target price on Biogen and gave the stock a buy rating in a research report on Sunday, May 5th. Finally, Canaccord Genuity increased their target price on Biogen from $275.00 to $285.00 and gave the stock a hold rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $269.74.

Shares of NASDAQ BIIB traded down $1.12 during midday trading on Tuesday, reaching $232.06. The company’s stock had a trading volume of 542,704 shares, compared to its average volume of 1,833,948. Biogen has a 12-month low of $216.12 and a 12-month high of $358.41. The firm has a 50 day moving average price of $234.77 and a 200-day moving average price of $253.23. The stock has a market capitalization of $43.48 billion, a P/E ratio of 8.86, a PEG ratio of 0.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.46 and a quick ratio of 2.22.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, topping analysts’ consensus estimates of $7.58 by $1.57. Biogen had a return on equity of 44.89% and a net margin of 37.62%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the business earned $5.80 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Biogen will post 32.41 EPS for the current year.

Large investors have recently made changes to their positions in the company. Northwest Wealth Management LLC increased its stake in shares of Biogen by 188.9% during the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 68 shares in the last quarter. 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 valued at $26,000 after acquiring an additional 67 shares in the last quarter. Resources Investment Advisors Inc. increased its position in shares of Biogen by 500.0% during the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Biogen during the first quarter valued at approximately $28,000. Finally, Private Ocean LLC bought a new stake in shares of Biogen during the first quarter valued at approximately $31,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

About Biogen

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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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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