Biogen (NASDAQ:BIIB) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Biogen (NASDAQ:BIIB) from a hold rating to a sell rating in a research report sent to investors on Thursday, BidAskClub reports.

A number of other equities analysts have also commented on BIIB. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Biogen in a research note on Wednesday, April 24th. Cowen reaffirmed a buy rating and issued a $275.00 price objective on shares of Biogen in a research note on Tuesday, July 30th. Canaccord Genuity raised their price objective on shares of Biogen from $275.00 to $285.00 and gave the stock a hold rating in a research note on Wednesday, July 24th. Piper Jaffray Companies reaffirmed a hold rating on shares of Biogen in a research note on Friday, July 26th. Finally, Credit Suisse Group started coverage on shares of Biogen in a research note on Monday, May 20th. They issued an underperform rating and a $198.00 price objective for the company. Four analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $269.74.

Shares of NASDAQ:BIIB opened at $231.68 on Thursday. The stock has a market capitalization of $41.99 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.83 and a beta of 0.99. Biogen has a 1-year low of $216.12 and a 1-year high of $358.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.22 and a current ratio of 2.46. The company has a 50 day moving average price of $235.12 and a 200 day moving average price of $255.06.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, topping analysts’ consensus estimates of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the business posted $5.80 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Biogen will post 32.41 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BIIB. Nuveen Asset Management LLC lifted its position in Biogen by 506.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,319,080 shares of the biotechnology company’s stock worth $308,493,000 after buying an additional 1,101,563 shares in the last quarter. AQR Capital Management LLC lifted its position in Biogen by 33.7% in the 1st quarter. AQR Capital Management LLC now owns 4,219,856 shares of the biotechnology company’s stock worth $991,793,000 after buying an additional 1,063,775 shares in the last quarter. Renaissance Technologies LLC lifted its position in Biogen by 52.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,483,077 shares of the biotechnology company’s stock worth $580,717,000 after buying an additional 851,263 shares in the last quarter. Boston Partners lifted its position in Biogen by 424.3% in the 1st quarter. Boston Partners now owns 922,718 shares of the biotechnology company’s stock worth $218,113,000 after buying an additional 746,711 shares in the last quarter. Finally, Parnassus Investments CA lifted its position in Biogen by 46.8% in the 2nd quarter. Parnassus Investments CA now owns 925,000 shares of the biotechnology company’s stock worth $216,330,000 after buying an additional 295,000 shares in the last quarter. Institutional investors own 91.11% of the company’s stock.

Biogen Company Profile

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.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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