Biogen (NASDAQ:BIIB) Upgraded by StockNews.com to Strong-Buy Rating

Biogen (NASDAQ:BIIB - Get Free Report) was upgraded by stock analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Friday.

BIIB has been the topic of several other reports. Oppenheimer cut their price objective 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. Mizuho cut their price target on Biogen from $251.00 to $207.00 and set an "outperform" rating on the stock in a research note on Thursday, November 21st. Bank of America reaffirmed a "neutral" rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Wedbush cut their target price on Biogen from $210.00 to $205.00 and set a "neutral" rating on the stock in a research note on Monday, September 23rd. Finally, BMO Capital Markets lowered Biogen from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $230.00 to $164.00 in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $242.68.

Biogen Price Performance

NASDAQ:BIIB traded down $0.92 during trading hours on Friday, reaching $146.47. The company had a trading volume of 5,775,622 shares, compared to its average volume of 1,216,867. Biogen has a one year low of $145.07 and a one year high of $268.30. 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 stock has a 50-day moving average of $167.48 and a two-hundred day moving average of $195.87. The firm has a market capitalization of $21.34 billion, a PE ratio of 13.23, a PEG ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen's revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.36 EPS. Analysts forecast that Biogen will post 16.43 earnings per share for the current year.

Institutional Investors Weigh In On Biogen

Several large investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in Biogen during the second quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Biogen during the 3rd quarter worth approximately $33,000. Blue Trust Inc. increased its holdings in shares of Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 127 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Finally, McClarren Financial Advisors Inc. boosted its position in Biogen by 11,450.0% during the second quarter. McClarren Financial Advisors Inc. now owns 231 shares of the biotechnology company's stock worth $54,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds 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.

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