Biogen (NASDAQ:BIIB) Cut to Underperform at Robert W. Baird

Share on StockTwits

Robert W. Baird lowered shares of Biogen (NASDAQ:BIIB) from a neutral rating to an underperform rating in a research note issued to investors on Monday, 24/7 WallStreet reports. They currently have $250.00 price objective on the biotechnology company’s stock.

Several other research analysts also recently commented on the stock. Morgan Stanley lifted their price target on shares of Biogen from $212.00 to $262.00 and gave the stock an underweight rating in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of Biogen from $280.00 to $334.00 and gave the stock a positive rating in a research note on Tuesday, October 22nd. Svb Leerink raised shares of Biogen from a market perform rating to an outperform rating and lifted their price target for the stock from $256.00 to $350.00 in a research note on Wednesday, October 23rd. BMO Capital Markets lifted their target price on shares of Biogen from $250.00 to $297.00 and gave the stock a market perform rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Biogen from $236.00 to $296.00 and gave the stock a hold rating in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have given a buy rating to the company. Biogen presently has an average rating of Hold and an average target price of $289.69.

Shares of Biogen stock opened at $292.39 on Monday. Biogen has a 1 year low of $215.77 and a 1 year high of $344.00. The firm has a market cap of $54.10 billion, a PE ratio of 9.28, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.91 and a quick ratio of 1.74. The company has a 50 day simple moving average of $280.13 and a two-hundred day simple moving average of $243.47.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.27 by $0.90. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the business posted $7.40 earnings per share. Biogen’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Biogen will post 33.14 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Trustcore Financial Services LLC increased its position in Biogen by 152.3% during the 2nd quarter. Trustcore Financial Services LLC now owns 111 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 67 shares during the period. Bourgeon Capital Management LLC purchased a new position in Biogen during the 3rd quarter valued at $30,000. Ruggie Capital Group purchased a new position in Biogen during the 2nd quarter valued at $33,000. Next Capital Management LLC increased its position in Biogen by 101.3% during the 2nd quarter. Next Capital Management LLC now owns 151 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 76 shares during the period. Finally, Sandy Spring Bank increased its position in Biogen by 43.5% during the 3rd quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 50 shares during the period. 87.47% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: Death Cross

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.