Raymond James Reiterates Hold Rating for Biogen (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB)‘s stock had its “hold” rating restated by equities research analysts at Raymond James in a research report issued to clients and investors on Friday, Stock Target Advisor reports.

A number of other analysts have also commented on the stock. Cowen lifted their target price on shares of Biogen from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Biogen from $244.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upgraded Biogen from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 29th. Jefferies Financial Group lifted their price objective on Biogen from $255.00 to $310.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $335.00 price objective on shares of Biogen in a report on Friday. Five investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $289.69.

Biogen stock opened at $300.26 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35. Biogen has a 1 year low of $215.77 and a 1 year high of $344.00. The company has a market cap of $54.18 billion, a PE ratio of 11.46, a PEG ratio of 1.63 and a beta of 1.08. The company’s 50-day moving average is $285.65 and its two-hundred day moving average is $244.76.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, topping the consensus estimate of $8.27 by $0.90. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. Biogen’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.40 EPS. Research analysts forecast that Biogen will post 33.14 EPS for the current year.

In other Biogen news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $292.35, for a total value of $308,429.25. Following the transaction, the director now owns 6,995 shares of the company’s stock, valued at $2,044,988.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC increased its holdings in 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 purchasing an additional 1,101,563 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Biogen by 52.2% during the second 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 period. Boston Partners boosted its position in shares of Biogen by 70.1% during the second quarter. Boston Partners now owns 1,569,859 shares of the biotechnology company’s stock worth $367,141,000 after buying an additional 647,141 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Biogen by 1,345.3% during the third quarter. Assenagon Asset Management S.A. now owns 674,932 shares of the biotechnology company’s stock worth $157,138,000 after buying an additional 628,233 shares in the last quarter. Finally, Banco Santander S.A. grew its holdings in shares of Biogen by 10,997.3% during the third quarter. Banco Santander S.A. now owns 342,795 shares of the biotechnology company’s stock worth $79,809,000 after buying an additional 339,706 shares in the last quarter. 87.47% of the stock is owned by 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.

Read More: Neutral Rating

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.