William Blair Reiterates “Outperform” Rating for Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB)‘s stock had its “outperform” rating reaffirmed by investment analysts at William Blair in a note issued to investors on Wednesday, RTT News reports.

Several other research firms have also issued reports on BIIB. Wedbush boosted their price target on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and set a $294.00 price objective on shares of Biogen in a research note on Friday, June 28th. HC Wainwright restated a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, May 23rd. Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target on shares of Biogen in a research report on Monday, April 29th. Finally, Barclays lowered their target price on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.50.

Biogen Trading Down 1.8 %

Biogen stock opened at $224.61 on Wednesday. Biogen has a 52-week low of $189.44 and a 52-week high of $287.60. The company has a market cap of $32.70 billion, a P/E ratio of 28.04, a P/E/G ratio of 2.30 and a beta of -0.04. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $224.14 and a two-hundred day simple moving average of $228.03.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business posted $3.40 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts predict that Biogen will post 15.63 EPS for the current year.

Institutional Trading of Biogen

A number of institutional investors have recently bought and sold shares of BIIB. Plato Investment Management Ltd grew its stake in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Biogen during the fourth quarter worth $26,000. Rise Advisors LLC bought a new stake in shares of Biogen during the first quarter worth $27,000. Gladius Capital Management LP purchased a new stake in shares of Biogen during the third quarter valued at $28,000. Finally, KB Financial Partners LLC grew its holdings in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

About Biogen

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.