Biogen (NASDAQ:BIIB) Rating Lowered to "Hold" at Stifel Nicolaus

Biogen (NASDAQ:BIIB - Get Free Report) was downgraded by equities researchers at Stifel Nicolaus from a "buy" rating to a "hold" rating in a report issued on Monday, Marketbeat Ratings reports. They presently have a $175.00 price target on the biotechnology company's stock. Stifel Nicolaus' price objective points to a potential upside of 16.29% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $220.00 to $210.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada cut their price objective on Biogen from $292.00 to $269.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. TD Cowen decreased their target price on Biogen from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Mizuho lowered their price target on Biogen from $251.00 to $207.00 and set an "outperform" rating on the stock in a report on Thursday, November 21st. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $245.32.

Biogen Stock Up 0.3 %

BIIB traded up $0.46 on Monday, reaching $150.49. 1,896,914 shares of the company traded hands, compared to its average volume of 1,194,419. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.83 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock's 50 day moving average price is $171.21 and its 200-day moving average price is $198.16. Biogen has a 52-week low of $148.60 and a 52-week high of $268.30.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.36 EPS. On average, sell-side analysts expect that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several large investors have recently modified their holdings of BIIB. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen in the 2nd quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the 3rd quarter valued at approximately $33,000. Blue Trust Inc. grew its stake in shares of Biogen by 249.0% in the 2nd 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. First Horizon Advisors Inc. grew its stake in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 49 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock worth $42,000 after acquiring an additional 93 shares during the last quarter. 87.93% of the stock is currently owned by 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.