Biogen (BIIB) Downgraded to Hold at BidaskClub
BidaskClub cut shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a report published on Friday morning.
BIIB has been the subject of a number of other reports. Citigroup dropped their price objective on shares of Biogen from $483.00 to $470.00 and set a buy rating for the company in a report on Monday, October 8th. Mizuho set a $423.00 price objective on shares of Biogen and gave the stock a buy rating in a report on Friday, June 29th. Nomura reaffirmed a buy rating and set a $420.00 price objective on shares of Biogen in a report on Friday, July 6th. Barclays lifted their price objective on shares of Biogen from $295.00 to $320.00 and gave the stock an equal weight rating in a report on Wednesday, July 25th. Finally, UBS Group downgraded shares of Biogen from a buy rating to a hold rating in a report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $382.89.
NASDAQ:BIIB traded down $9.74 during trading hours on Friday, hitting $320.41. The stock had a trading volume of 1,813,941 shares, compared to its average volume of 1,285,542. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.36 and a quick ratio of 2.06. Biogen has a one year low of $249.17 and a one year high of $388.67. The company has a market cap of $66.51 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.28 and a beta of 0.86.
In related news, EVP Michael D. Ehlers sold 1,000 shares of Biogen stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares in the company, valued at approximately $1,498,350. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of BIIB. Rainier Group Investment Advisory LLC purchased a new position in shares of Biogen in the first quarter valued at about $100,000. Adviser Investments LLC increased its position in shares of Biogen by 745.7% during the second quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 343 shares during the period. NEXT Financial Group Inc purchased a new position in shares of Biogen during the third quarter valued at about $133,000. Private Capital Group LLC increased its position in shares of Biogen by 1,029.8% during the first quarter. Private Capital Group LLC now owns 531 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 484 shares during the period. Finally, Kaizen Advisory LLC increased its position in shares of Biogen by 145.8% during the second quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 296 shares during the period. Institutional investors own 87.55% of the company’s stock.
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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