JPMorgan Chase & Co. reiterated their hold rating on shares of Biogen (NASDAQ:BIIB) in a research note issued to investors on Sunday morning, AnalystRatings.com reports.

BIIB has been the subject of a number of other research reports. Robert W. Baird lowered their price objective on Biogen from $290.00 to $228.00 and set an underperform rating for the company in a research note on Friday, June 19th. Goldman Sachs Group lowered their price objective on Biogen from $300.00 to $257.00 and set a neutral rating for the company in a research note on Monday, July 13th. BMO Capital Markets lowered their price objective on Biogen from $317.00 to $280.00 and set a market perform rating for the company in a research note on Thursday, July 23rd. Mizuho restated a hold rating and set a $316.00 price objective on shares of Biogen in a research note on Wednesday, July 22nd. Finally, Piper Sandler lowered their price objective on Biogen from $307.00 to $260.00 and set a neutral rating for the company in a research note on Friday, June 19th. Six analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $310.36.

BIIB stock opened at $278.45 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.19 and a current ratio of 2.46. Biogen has a 1 year low of $219.70 and a 1 year high of $374.99. The firm has a market cap of $44.06 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.79 and a beta of 0.55. The stock has a 50-day simple moving average of $281.52 and a 200-day simple moving average of $292.93.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, July 22nd. The biotechnology company reported $10.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.03 by $2.23. Biogen had a return on equity of 50.10% and a net margin of 40.91%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the firm earned $9.15 earnings per share. On average, equities research analysts predict that Biogen will post 35.4 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in BIIB. Primecap Management Co. CA lifted its holdings in shares of Biogen by 5.1% in the 1st quarter. Primecap Management Co. CA now owns 15,965,989 shares of the biotechnology company’s stock worth $5,051,320,000 after purchasing an additional 776,508 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Biogen by 108.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,087,186 shares of the biotechnology company’s stock worth $283,778,000 after purchasing an additional 566,347 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Biogen by 155.5% in the 1st quarter. APG Asset Management N.V. now owns 730,430 shares of the biotechnology company’s stock worth $153,769,000 after purchasing an additional 444,508 shares during the last quarter. Orbimed Advisors LLC raised its stake in Biogen by 644.8% during the 1st quarter. Orbimed Advisors LLC now owns 480,400 shares of the biotechnology company’s stock valued at $151,989,000 after acquiring an additional 415,900 shares in the last quarter. Finally, AJO LP raised its stake in Biogen by 413.3% during the 2nd quarter. AJO LP now owns 423,098 shares of the biotechnology company’s stock valued at $113,199,000 after acquiring an additional 340,674 shares in the last quarter. 83.74% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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