Mizuho Reiterates “Hold” Rating for Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB)‘s stock had its “hold” rating restated by research analysts at Mizuho in a research report issued on Tuesday, AnalystRatings.com reports. They presently have a $235.00 price objective on the biotechnology company’s stock. Mizuho’s target price would indicate a potential downside of 17.70% from the stock’s previous close.

A number of other equities research analysts have also recently commented on BIIB. Bank of America assumed coverage on shares of Biogen in a research note on Wednesday, October 16th. They set an “underperform” rating and a $200.00 target price on the stock. Oppenheimer set a $280.00 target price on shares of Biogen and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada set a $242.00 price objective on shares of Biogen and gave the company a “hold” rating in a report on Friday, September 6th. Cowen reaffirmed a “buy” rating and set a $275.00 price objective on shares of Biogen in a report on Tuesday, July 30th. Finally, Morgan Stanley increased their price objective on shares of Biogen from $211.00 to $212.00 and gave the company an “underweight” rating in a report on Friday, October 11th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $288.33.

NASDAQ BIIB traded up $6.73 on Tuesday, reaching $285.55. 2,219,033 shares of the stock were exchanged, compared to its average volume of 2,862,664. Biogen has a one year low of $215.77 and a one year high of $344.00. The firm has a market capitalization of $51.99 billion, a PE ratio of 10.90, a PEG ratio of 1.53 and a beta of 1.02. The company’s 50-day simple moving average is $230.88 and its two-hundred day simple moving average is $231.42. The company has a current ratio of 1.91, a quick ratio of 2.22 and a debt-to-equity ratio of 0.35.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, topping analysts’ consensus estimates of $8.27 by $0.90. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter last year, the business earned $7.40 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Biogen will post 32.4 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Trustcore Financial Services LLC grew its holdings in shares of Biogen by 152.3% in the second quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Ruggie Capital Group purchased a new position in shares of Biogen in the second quarter valued at $33,000. JJJ Advisors Inc. purchased a new position in shares of Biogen in the second quarter valued at $35,000. Next Capital Management LLC grew its holdings in shares of Biogen by 101.3% in the second quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 76 shares in the last quarter. Finally, Lenox Wealth Management Inc. grew its holdings in shares of Biogen by 131.9% in the second quarter. Lenox Wealth Management Inc. now owns 167 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 95 shares in the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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