Biogen’s (BIIB) “Neutral” Rating Reaffirmed at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of Biogen (NASDAQ:BIIB – Get Rating) in a research note issued to investors on Tuesday. Robert W. Baird currently has a $224.00 price objective on the biotechnology company’s stock.

BIIB has been the subject of a number of other research reports. Guggenheim reduced their price objective on Biogen to $190.00 in a research note on Friday, July 22nd. Cowen reduced their price objective on Biogen from $285.00 to $270.00 in a research note on Thursday, July 21st. StockNews.com raised Biogen from a buy rating to a strong-buy rating in a research note on Wednesday, July 27th. Truist Financial cut their target price on Biogen from $320.00 to $270.00 and set a buy rating on the stock in a research report on Thursday, July 21st. Finally, Barclays cut their target price on Biogen from $210.00 to $200.00 and set an equal weight rating on the stock in a research report on Thursday, July 21st. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $257.36.

Biogen Trading Down 0.1 %

NASDAQ BIIB opened at $209.15 on Tuesday. The business has a 50 day simple moving average of $207.37 and a 200 day simple moving average of $209.56. Biogen has a one year low of $187.16 and a one year high of $351.86. The stock has a market capitalization of $30.35 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.00 and a beta of 0.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.94 and a quick ratio of 1.68.

Biogen (NASDAQ:BIIB – Get Rating) last released its earnings results on Wednesday, July 20th. The biotechnology company reported $5.25 EPS for the quarter, topping the consensus estimate of $4.09 by $1.16. Biogen had a return on equity of 22.36% and a net margin of 19.36%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter last year, the firm posted $5.68 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. Research analysts expect that Biogen will post 16.1 earnings per share for the current year.

Institutional Trading of Biogen

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Trail Ridge Investment Advisors LLC raised its stake in shares of Biogen by 2.6% during the 2nd quarter. Trail Ridge Investment Advisors LLC now owns 3,363 shares of the biotechnology company’s stock valued at $686,000 after purchasing an additional 85 shares during the period. Belpointe Asset Management LLC raised its stake in shares of Biogen by 2.9% during the 2nd quarter. Belpointe Asset Management LLC now owns 3,436 shares of the biotechnology company’s stock valued at $701,000 after purchasing an additional 96 shares during the period. Hills Bank & Trust Co bought a new stake in shares of Biogen during the 2nd quarter valued at $130,000. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Biogen during the 2nd quarter valued at $373,000. Finally, Comerica Bank raised its stake in shares of Biogen by 8.8% during the 2nd quarter. Comerica Bank now owns 17,405 shares of the biotechnology company’s stock valued at $3,834,000 after purchasing an additional 1,412 shares during the period. 83.92% of the stock is currently owned by institutional investors.

Biogen Company Profile

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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. 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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