Biogen (NASDAQ:BIIB) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $310.00 price target on shares of Biogen in a research note on Thursday, April 30th. Wolfe Research started coverage on shares of Biogen in a research note on Tuesday, March 31st. They set a “market perform” rating and a $331.00 price target on the stock. Nomura Securities lifted their price target on shares of Biogen from $320.00 to $392.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Morgan Stanley reaffirmed a “sell” rating and set a $301.00 price target on shares of Biogen in a research note on Thursday. Finally, Robert W. Baird lifted their price target on shares of Biogen from $250.00 to $290.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 5th. Seven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $317.46.

NASDAQ:BIIB opened at $300.50 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $48.28 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 0.64 and a beta of 0.54. The firm’s fifty day simple moving average is $312.73 and its 200 day simple moving average is $303.55. Biogen has a twelve month low of $215.77 and a twelve month high of $374.99.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.73 by $1.41. Biogen had a net margin of 40.76% and a return on equity of 49.22%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the previous year, the business posted $6.98 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts predict that Biogen will post 33.13 earnings per share for the current year.

In related news, Director Stephen A. Sherwin sold 2,434 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $295.22, for a total transaction of $718,565.48. Following the completion of the sale, the director now owns 16,517 shares of the company’s stock, valued at approximately $4,876,148.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Cornell Pochily Investment Advisors Inc. boosted its stake in Biogen by 1.8% during the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 1,655 shares of the biotechnology company’s stock valued at $524,000 after purchasing an additional 30 shares during the period. Buckingham Asset Management LLC boosted its stake in Biogen by 3.9% during the 1st quarter. Buckingham Asset Management LLC now owns 875 shares of the biotechnology company’s stock valued at $277,000 after purchasing an additional 33 shares during the period. CAPROCK Group Inc. boosted its stake in Biogen by 0.8% during the 4th quarter. CAPROCK Group Inc. now owns 4,560 shares of the biotechnology company’s stock valued at $1,353,000 after purchasing an additional 36 shares during the period. Eudaimonia Partners LLC boosted its stake in Biogen by 2.9% during the 1st quarter. Eudaimonia Partners LLC now owns 1,287 shares of the biotechnology company’s stock valued at $407,000 after purchasing an additional 36 shares during the period. Finally, Trust Co. of Vermont boosted its stake in Biogen by 1.4% during the 4th quarter. Trust Co. of Vermont now owns 2,669 shares of the biotechnology company’s stock valued at $792,000 after purchasing an additional 37 shares during the period. 87.44% of the stock is owned by hedge funds and other institutional investors.

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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