Investment Analysts’ Weekly Ratings Changes for Biogen (BIIB)

Several brokerages have updated their recommendations and price targets on shares of Biogen (NASDAQ: BIIB) in the last few weeks:

  • 8/6/2019 – Biogen was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/30/2019 – Biogen was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/30/2019 – Biogen had its “buy” rating reaffirmed by analysts at Cowen Inc. They now have a $275.00 price target on the stock.
  • 7/26/2019 – Biogen had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 7/25/2019 – Biogen had its “hold” rating reaffirmed by analysts at Mizuho.
  • 7/24/2019 – Biogen was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/24/2019 – Biogen had its price target raised by analysts at Canaccord Genuity from $275.00 to $285.00. They now have a “hold” rating on the stock.
  • 7/13/2019 – Biogen was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/28/2019 – Biogen was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating. They now have a $250.00 price target on the stock, down previously from $280.00.

BIIB traded up $2.27 on Tuesday, reaching $233.23. 847,929 shares of the company traded hands, compared to its average volume of 1,871,920. Biogen Inc has a one year low of $216.12 and a one year high of $358.41. The firm has a fifty day moving average price of $235.76. The firm has a market capitalization of $42.60 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.86 and a beta of 0.99. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $1.57. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $5.80 EPS. Equities research analysts expect that Biogen Inc will post 32.41 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Weaver Consulting Group purchased a new position in shares of Biogen in the 1st quarter worth approximately $28,000. Cornerstone Advisors Inc. grew its position in shares of Biogen by 6.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,427 shares of the biotechnology company’s stock worth $334,000 after buying an additional 84 shares during the last quarter. Accident Compensation Corp purchased a new position in shares of Biogen in the 1st quarter worth approximately $284,000. Piedmont Investment Advisors Inc. grew its position in shares of Biogen by 41.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 23,763 shares of the biotechnology company’s stock worth $5,617,000 after buying an additional 6,966 shares during the last quarter. Finally, Fosun International Ltd grew its position in shares of Biogen by 20.0% in the 1st quarter. Fosun International Ltd now owns 2,400 shares of the biotechnology company’s stock worth $559,000 after buying an additional 400 shares during the last quarter. 91.11% of the stock is currently owned by institutional investors and hedge funds.

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Further Reading: How are institutional investors different from individual investors?

Receive News & Ratings for Biogen Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc and related companies with MarketBeat.com's FREE daily email newsletter.