Biogen's (BIIB) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Biogen (NASDAQ:BIIB - Free Report) in a research note issued to investors on Wednesday,Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup decreased their target price on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Argus downgraded shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. HC Wainwright dropped their target price on shares of Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. StockNews.com cut shares of Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 28th. Finally, Canaccord Genuity Group cut their target price on Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $213.15.

Biogen Stock Down 1.7 %

BIIB stock traded down $2.02 during mid-day trading on Wednesday, reaching $116.59. The company had a trading volume of 405,896 shares, compared to its average volume of 1,350,290. Biogen has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The company has a market capitalization of $17.07 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a fifty day simple moving average of $134.29 and a 200 day simple moving average of $151.20.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Biogen

Large investors have recently bought and sold shares of the stock. Signaturefd LLC raised its position in shares of Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock worth $320,000 after buying an additional 71 shares during the period. Quent Capital LLC lifted its stake in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock valued at $46,000 after purchasing an additional 72 shares in the last quarter. Principal Securities Inc. increased its position in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 78 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after buying an additional 79 shares in the last quarter. Finally, Israel Discount Bank of New York increased its position in shares of Biogen by 6.2% in the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

About Biogen

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.