Biogen (NASDAQ:BIIB) Stock Rating Reaffirmed by Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Biogen (NASDAQ:BIIBGet Rating) in a research note issued to investors on Tuesday. The firm currently has a $300.00 price target on the biotechnology company’s stock.

Several other brokerages have also recently weighed in on BIIB. Barclays reduced their price target on Biogen from $210.00 to $200.00 and set an equal weight rating on the stock in a research note on Thursday, July 21st. UBS Group reduced their price target on Biogen to $238.00 in a research note on Friday, July 22nd. Oppenheimer upped their price target on Biogen from $225.00 to $230.00 and gave the stock an outperform rating in a research note on Monday, July 18th. Truist Financial cut their target price on Biogen from $320.00 to $270.00 and set a buy rating on the stock in a research note on Thursday, July 21st. Finally, Royal Bank of Canada cut their target price on Biogen from $264.00 to $259.00 in a research note on Wednesday, July 20th. Thirteen research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $253.61.

Biogen Price Performance

Shares of Biogen stock opened at $200.62 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 1.94 and a debt-to-equity ratio of 0.53. The company has a market cap of $29.11 billion, a PE ratio of 14.31, a P/E/G ratio of 0.93 and a beta of 0.43. The business has a 50 day moving average of $209.07 and a 200 day moving average of $207.03. Biogen has a 52 week low of $187.16 and a 52 week high of $299.83.

Biogen (NASDAQ:BIIBGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The biotechnology company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.09 by $1.16. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Biogen had a return on equity of 22.36% and a net margin of 19.36%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.68 earnings per share. As a group, equities research analysts forecast that Biogen will post 16.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA grew its position in shares of Biogen by 0.5% during the first quarter. Primecap Management Co. CA now owns 15,834,606 shares of the biotechnology company’s stock worth $3,334,768,000 after purchasing an additional 77,201 shares in the last quarter. BlackRock Inc. grew its position in shares of Biogen by 2.8% during the first quarter. BlackRock Inc. now owns 14,121,097 shares of the biotechnology company’s stock worth $2,973,904,000 after purchasing an additional 384,143 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Biogen by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock worth $2,468,356,000 after purchasing an additional 183,285 shares in the last quarter. State Street Corp grew its position in shares of Biogen by 2.8% during the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after purchasing an additional 197,400 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Biogen by 1.1% during the first quarter. Wellington Management Group LLP now owns 6,249,526 shares of the biotechnology company’s stock worth $1,316,151,000 after purchasing an additional 65,071 shares in the last quarter. Institutional investors own 83.45% of the company’s stock.

Biogen Company Profile

(Get Rating)

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

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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