Biogen (BIIB) Rating Increased to Strong-Buy at BidaskClub

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BidaskClub upgraded shares of Biogen (NASDAQ:BIIB) from a buy rating to a strong-buy rating in a research note issued to investors on Monday.

Several other analysts have also weighed in on BIIB. Oppenheimer set a $400.00 price objective on Biogen and gave the company a buy rating in a research note on Sunday, September 16th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $400.00 price objective on shares of Biogen in a research note on Monday, October 1st. Raymond James reaffirmed a buy rating on shares of Biogen in a research note on Wednesday, October 3rd. Citigroup reduced their price objective on Biogen from $483.00 to $470.00 and set a buy rating on the stock in a research note on Monday, October 8th. Finally, ValuEngine lowered Biogen from a hold rating to a sell rating in a research note on Friday, October 12th. Eight investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $381.86.

Shares of BIIB traded down $0.57 during trading hours on Monday, hitting $330.62. 12,423 shares of the company were exchanged, compared to its average volume of 1,413,511. The firm has a market cap of $65.81 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 1.17 and a beta of 0.99. Biogen has a fifty-two week low of $249.17 and a fifty-two week high of $388.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.46 and a current ratio of 2.75.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, October 23rd. The biotechnology company reported $7.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.78 by $0.62. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. Biogen’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $6.31 EPS. On average, research analysts predict that Biogen will post 25.84 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIIB. Capital World Investors grew its stake in Biogen by 503.2% during the third quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock worth $873,986,000 after purchasing an additional 2,063,598 shares during the period. Morgan Stanley grew its stake in Biogen by 61.1% during the second quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock worth $508,240,000 after purchasing an additional 664,096 shares during the period. Mainstay Capital Management LLC ADV grew its stake in Biogen by 21,407.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 665,213 shares of the biotechnology company’s stock worth $2,537,000 after purchasing an additional 662,120 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Biogen during the third quarter worth approximately $218,735,000. Finally, Renaissance Technologies LLC grew its stake in Biogen by 163.2% during the third quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock worth $298,927,000 after purchasing an additional 524,575 shares during the period. 86.78% of the stock is owned by institutional investors and hedge funds.

Biogen Company Profile

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

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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