BidaskClub Lowers Biogen (NASDAQ:BIIB) to Sell

BidaskClub downgraded shares of Biogen (NASDAQ:BIIB) from a hold rating to a sell rating in a research note published on Saturday, BidAskClub reports.

BIIB has been the subject of several other reports. Cowen reduced their price objective on Biogen from $400.00 to $275.00 and set an outperform rating for the company in a research note on Thursday, March 21st. Wells Fargo & Co downgraded Biogen from an outperform rating to a market perform rating in a research note on Thursday, March 21st. Argus increased their target price on Norfolk Southern from $210.00 to $220.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Nomura increased their target price on Nike from $85.00 to $91.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Finally, Goldman Sachs Group set a €76.00 ($88.37) target price on Symrise and gave the stock a neutral rating in a research note on Thursday, March 21st. Four research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have issued a buy rating to the company. Biogen presently has an average rating of Hold and an average target price of $277.36.

BIIB opened at $233.62 on Friday. The firm’s 50 day moving average is $231.43. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43. The stock has a market cap of $44.94 billion, a P/E ratio of 8.92, a PEG ratio of 0.93 and a beta of 0.97. Biogen has a 52 week low of $216.12 and a 52 week high of $388.67.



Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $6.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.88 by $0.10. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $6.05 EPS. Analysts predict that Biogen will post 29.66 earnings per share for the current fiscal year.

In related news, Director Alexander J. Denner bought 118,342 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $229.94 per share, for a total transaction of $27,211,559.48. Following the acquisition, the director now owns 10,909 shares in the company, valued at $2,508,415.46. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michel Vounatsos bought 4,351 shares of the stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The disclosure for this purchase can be found here. Insiders purchased a total of 173,035 shares of company stock valued at $39,759,632 over the last ninety days. 0.39% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in BIIB. Northwest Wealth Management LLC boosted its holdings in shares of Biogen by 188.9% during the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 68 shares during the last quarter. Resources Investment Advisors Inc. boosted its holdings in shares of Biogen by 500.0% during the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Weaver Consulting Group acquired a new stake in shares of Biogen during the first quarter worth $28,000. Private Ocean LLC acquired a new stake in shares of Biogen during the first quarter worth $31,000. Finally, Somerset Trust Co boosted its holdings in shares of Biogen by 150.0% during the first quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Further Reading: Ex-Dividend

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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