Biogen (NASDAQ:BIIB) Lowered to Hold Rating by Hsbc Global Res

Biogen (NASDAQ:BIIB) was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms have also commented on BIIB. Canaccord Genuity Group lowered their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Morgan Stanley decreased their target price on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Royal Bank of Canada increased their target price on shares of Biogen from $221.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, April 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Friday. Finally, BMO Capital Markets decreased their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $203.07.

Biogen Stock Up 0.2 %

Biogen stock opened at $119.12 on Monday. The company has a 50-day simple moving average of $132.12 and a 200-day simple moving average of $148.38. The firm has a market capitalization of $17.44 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts expect that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after acquiring an additional 71 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Biogen by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after acquiring an additional 79 shares in the last quarter. Finally, Israel Discount Bank of New York grew its holdings in shares of Biogen by 6.2% during the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 82 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.