Biogen (NASDAQ:BIIB) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Biogen (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a research report released on Monday morning.

A number of other equities research analysts also recently issued reports on BIIB. Royal Bank of Canada increased their price target on Biogen from $282.00 to $292.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. William Blair restated an outperform rating on shares of Biogen in a research report on Wednesday, July 3rd. Robert W. Baird reduced their price objective on shares of Biogen from $316.00 to $294.00 and set an outperform rating on the stock in a research note on Monday, July 29th. Wells Fargo & Company dropped their target price on shares of Biogen from $240.00 to $225.00 and set an equal weight rating for the company in a research report on Friday, August 2nd. Finally, Scotiabank decreased their price objective on shares of Biogen from $275.00 to $244.00 and set a sector outperform rating on the stock in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of Moderate Buy and a consensus target price of $276.35.

Biogen Stock Performance

BIIB opened at $204.95 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The business has a fifty day simple moving average of $214.54 and a 200 day simple moving average of $216.81. Biogen has a 1 year low of $189.44 and a 1 year high of $270.50. The company has a market capitalization of $29.84 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.06 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company posted $4.02 earnings per share. Biogen’s revenue was up .4% compared to the same quarter last year. Research analysts expect that Biogen will post 16.12 EPS for the current year.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently made changes to their positions in BIIB. Livelsberger Financial Advisory bought a new position in Biogen during the fourth quarter worth $26,000. Plato Investment Management Ltd grew its stake in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares during the period. Rise Advisors LLC bought a new stake in Biogen in the first quarter worth approximately $27,000. Itau Unibanco Holding S.A. acquired a new position in Biogen in the second quarter valued at approximately $33,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after buying an additional 85 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

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.