BidaskClub cut shares of Biogen (NASDAQ:BIIB) from a hold rating to a sell rating in a report released on Wednesday, BidAskClub reports.

BIIB has been the subject of a number of other research reports. Citigroup restated a neutral rating on shares of Biogen in a research report on Thursday, May 23rd. Standpoint Research upgraded Biogen from a hold rating to a buy rating in a report on Wednesday, June 5th. Mizuho reiterated a hold rating on shares of Biogen in a report on Thursday, July 25th. Wedbush started coverage on Biogen in a report on Wednesday, May 22nd. They set a neutral rating and a $231.00 target price for the company. Finally, Barclays lowered their target price on Biogen from $250.00 to $245.00 and set an equal weight rating for the company in a report on Thursday, May 9th. Four equities research 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. Biogen currently has an average rating of Hold and a consensus target price of $269.74.

BIIB opened at $219.75 on Wednesday. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. Biogen has a 12 month low of $216.12 and a 12 month high of $358.41. The company has a fifty day simple moving average of $233.23 and a 200 day simple moving average of $249.23. The stock has a market cap of $40.78 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.81 and a beta of 0.99.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the company earned $5.80 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Biogen will post 32.38 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of BIIB. Nuveen Asset Management LLC boosted its stake in shares of Biogen by 506.4% during 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 during the last quarter. AQR Capital Management LLC boosted its stake in shares of Biogen by 33.7% during 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 during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Biogen by 52.2% during 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 during the last quarter. Boston Partners boosted its stake in shares of Biogen by 424.3% during 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 during the last quarter. Finally, Parnassus Investments CA boosted its stake in shares of Biogen by 46.8% during 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 during the last quarter. Institutional investors own 90.77% of the company’s stock.

About Biogen

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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