Biogen (NASDAQ:BIIB) Rating Reiterated by William Blair

Biogen (NASDAQ:BIIBGet Free Report)‘s stock had its “outperform” rating reaffirmed by analysts at William Blair in a research report issued to clients and investors on Monday, RTT News reports.

A number of other equities analysts have also weighed in on the stock. Mizuho decreased their price objective on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 target price on shares of Biogen in a research note on Tuesday, February 20th. Oppenheimer decreased their target price on shares of Biogen from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. Finally, Canaccord Genuity Group decreased their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $305.68.

Get Our Latest Stock Analysis on Biogen

Biogen Price Performance

Shares of NASDAQ BIIB opened at $207.64 on Monday. Biogen has a twelve month low of $207.58 and a twelve month high of $319.76. The firm has a market cap of $30.18 billion, a P/E ratio of 26.02, a PEG ratio of 1.80 and a beta of -0.02. The company has a 50 day moving average of $227.73 and a 200 day moving average of $241.08. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIBGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the firm earned $4.05 earnings per share. As a group, research analysts expect that Biogen will post 15.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 789 shares of company stock valued at $182,213. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Biogen by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after purchasing an additional 2,218,744 shares during the period. Norges Bank purchased a new stake in Biogen in the 4th quarter worth about $378,728,000. Price T Rowe Associates Inc. MD raised its position in Biogen by 49.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after purchasing an additional 691,843 shares during the period. FIL Ltd raised its position in Biogen by 936.4% in the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after purchasing an additional 593,158 shares during the period. Finally, First Trust Advisors LP raised its position in Biogen by 141.0% in the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after purchasing an additional 571,795 shares during the period. Institutional investors own 87.93% of the company’s stock.

About Biogen

(Get Free Report)

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.

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