Robert W. Baird cut shares of Biogen (NASDAQ:BIIB) from a neutral rating to an underperform rating in a research note published on Monday morning, 24/7 WallStreet reports. The brokerage currently has $250.00 price target on the biotechnology company’s stock.

A number of other equities research analysts have also commented on BIIB. Mizuho reaffirmed a hold rating and issued a $235.00 price objective on shares of Biogen in a research note on Tuesday, October 22nd. Bank of America increased their target price on shares of Biogen from $200.00 to $235.00 and gave the stock an underperform rating in a research note on Wednesday, October 23rd. Cowen increased their target price on shares of Biogen from $275.00 to $325.00 and gave the stock an outperform rating in a research note on Wednesday, October 23rd. Jefferies Financial Group increased their target price on shares of Biogen from $255.00 to $310.00 and gave the stock a hold rating in a research note on Tuesday, October 22nd. Finally, Credit Suisse Group increased their target price on shares of Biogen from $203.00 to $260.00 and gave the stock an underperform rating in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $289.69.

NASDAQ:BIIB opened at $292.39 on Monday. The firm’s fifty day moving average is $280.13 and its 200-day moving average is $243.47. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.74 and a current ratio of 1.91. Biogen has a 52 week low of $215.77 and a 52 week high of $344.00. The firm has a market cap of $54.10 billion, a P/E ratio of 9.28, a P/E/G ratio of 1.63 and a beta of 1.08.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, beating the Zacks’ 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period in the prior year, the firm posted $7.40 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Biogen will post 33.14 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. Institutional & Family Asset Management LLC lifted its stake in shares of Biogen by 7.3% in the third quarter. Institutional & Family Asset Management LLC now owns 543 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 37 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Biogen in the third quarter valued at $1,145,000. Man Group plc lifted its stake in shares of Biogen by 47.0% in the third quarter. Man Group plc now owns 694,842 shares of the biotechnology company’s stock valued at $161,773,000 after buying an additional 222,250 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Biogen by 16.9% in the third quarter. Squarepoint Ops LLC now owns 47,194 shares of the biotechnology company’s stock valued at $10,988,000 after buying an additional 6,826 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in shares of Biogen by 49.6% in the third quarter. Worldquant Millennium Advisors LLC now owns 187,383 shares of the biotechnology company’s stock valued at $43,626,000 after buying an additional 62,155 shares in the last quarter. 87.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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