Biogen (NASDAQ:BIIB) Given "Neutral" Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Biogen (NASDAQ:BIIB - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has a $135.00 price target on the biotechnology company's stock, down from their previous price target of $138.00.

A number of other brokerages have also issued reports on BIIB. StockNews.com lowered shares of Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Barclays cut their price target on shares of Biogen from $190.00 to $180.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. BMO Capital Markets cut their price target on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group cut their price target on shares of Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) cut their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen currently has an average rating of "Hold" and an average price target of $211.85.

Biogen Stock Up 2.6 %

Shares of NASDAQ:BIIB traded up $3.56 during trading on Tuesday, reaching $140.64. 1,807,566 shares of the company traded hands, compared to its average volume of 1,448,624. The firm has a fifty day simple moving average of $145.34 and a 200 day simple moving average of $171.22. The firm has a market cap of $20.59 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08. Biogen has a 1-year low of $128.51 and a 1-year high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (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 anticipate that Biogen will post 15.84 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vermillion Wealth Management Inc. acquired a new stake in shares of Biogen during the 4th quarter valued at about $46,000. Mackenzie Financial Corp boosted its position in shares of Biogen by 140.3% during the 4th quarter. Mackenzie Financial Corp now owns 33,846 shares of the biotechnology company's stock valued at $5,176,000 after acquiring an additional 19,759 shares in the last quarter. Forum Financial Management LP boosted its position in shares of Biogen by 26.5% during the 4th quarter. Forum Financial Management LP now owns 3,804 shares of the biotechnology company's stock valued at $582,000 after acquiring an additional 796 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Biogen by 20.4% during the 4th quarter. Toronto Dominion Bank now owns 72,671 shares of the biotechnology company's stock valued at $11,111,000 after acquiring an additional 12,301 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Biogen during the 4th quarter valued at about $5,236,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.