Biogen’s (BIIB) “Outperform” Rating Reaffirmed at William Blair

Biogen (NASDAQ:BIIB)‘s stock had its “outperform” rating reissued by investment analysts at William Blair in a research report issued on Monday,RTT News reports.

BIIB has been the topic of several other research reports. Wolfe Research began coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Wells Fargo & Company cut their price objective on Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday. Truist Financial cut their price objective on Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Citigroup began coverage on Biogen in a report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective on the stock. Finally, Wedbush cut their price objective on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Biogen has an average rating of “Hold” and an average target price of $230.00.

Biogen Stock Performance

NASDAQ:BIIB traded up $1.36 during mid-day trading on Monday, hitting $150.18. 1,142,723 shares of the stock were exchanged, compared to its average volume of 1,164,875. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07. The firm’s 50-day simple moving average is $157.38 and its 200 day simple moving average is $187.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen has a fifty-two week low of $145.07 and a fifty-two week high of $252.17.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company earned $4.36 EPS. The company’s revenue was down 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of institutional investors and hedge funds have recently made changes to their positions in BIIB. Inspire Trust Co. N.A. increased its stake in Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares during the last quarter. Centre Asset Management LLC increased its stake in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 3,698 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares during the last quarter. Principal Financial Group Inc. increased its stake in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after acquiring an additional 5,270 shares during the last quarter. Finally, Arlington Partners LLC increased its stake in Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after acquiring an additional 4,902 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

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.