Biogen (NASDAQ:BIIB) Lifted to Neutral at Robert W. Baird

Robert W. Baird upgraded shares of Biogen (NASDAQ:BIIB) from an underperform rating to a neutral rating in a research note published on Monday morning, PriceTargets.com reports. They currently have $382.00 price target on the biotechnology company’s stock, up from their previous price target of $216.00.

Several other analysts have also weighed in on BIIB. Cantor Fitzgerald decreased their target price on shares of Biogen from $278.00 to $268.00 and set a neutral rating on the stock in a research report on Wednesday, February 17th. Raymond James upgraded shares of Biogen from an underperform rating to a market perform rating in a research report on Monday. Cowen upgraded shares of Biogen from a market perform rating to an outperform rating and boosted their price target for the company from $225.00 to $450.00 in a research report on Monday. Bank of America upgraded shares of Biogen from an underperform rating to a neutral rating and boosted their price target for the company from $235.00 to $400.00 in a research report on Monday. Finally, Morgan Stanley reduced their price target on shares of Biogen from $351.00 to $343.00 and set an overweight rating on the stock in a research report on Monday, April 19th. Sixteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $369.86.

Shares of Biogen stock opened at $414.71 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.75 and a current ratio of 2.12. The company’s 50-day simple moving average is $282.68. Biogen has a twelve month low of $223.25 and a twelve month high of $468.55. The firm has a market cap of $62.44 billion, a price-to-earnings ratio of 21.76, a P/E/G ratio of 1.87 and a beta of 0.44.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 21st. The biotechnology company reported $5.34 earnings per share for the quarter, beating the consensus estimate of $5.06 by $0.28. Biogen had a net margin of 23.89% and a return on equity of 42.04%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the business earned $9.14 EPS. The firm’s revenue was down 23.8% on a year-over-year basis. Sell-side analysts predict that Biogen will post 18.43 earnings per share for the current year.

In other Biogen news, insider Alfred Sandrock sold 7,672 shares of the company’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $440.00, for a total value of $3,375,680.00. Following the completion of the sale, the insider now owns 2,919 shares of the company’s stock, valued at $1,284,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 360 shares of the company’s stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $274.17, for a total transaction of $98,701.20. Following the completion of the sale, the director now directly owns 7,400 shares of the company’s stock, valued at approximately $2,028,858. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

A number of large investors have recently modified their holdings of BIIB. Annapolis Financial Services LLC bought a new stake in Biogen in the fourth quarter valued at approximately $25,000. Signet Investment Advisory Group Inc. bought a new stake in Biogen in the fourth quarter valued at approximately $26,000. Prime Capital Investment Advisors LLC bought a new stake in Biogen in the first quarter valued at approximately $26,000. Sittner & Nelson LLC bought a new stake in Biogen in the fourth quarter valued at approximately $28,000. Finally, Coastal Capital Group Inc. bought a new stake in Biogen in the first quarter valued at approximately $28,000. 85.10% 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, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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