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

Several other equities analysts also recently weighed in on the company. Guggenheim reaffirmed a buy rating and issued a $390.00 target price on shares of Biogen in a research report on Wednesday, July 8th. 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 report on Thursday, July 23rd. Morgan Stanley raised Biogen from an underweight rating to an overweight rating and boosted their price objective for the stock from $263.00 to $357.00 in a research report on Monday, July 27th. SVB Leerink lowered their price objective on Biogen from $350.00 to $342.00 and set an outperform rating for the company in a research report on Wednesday, August 19th. Finally, Credit Suisse Group raised Biogen from a neutral rating to an outperform rating and boosted their price objective for the stock from $270.00 to $375.00 in a research report on Friday, August 7th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $310.36.

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

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Primecap Management Co. CA lifted its stake in Biogen by 5.1% in the first quarter. Primecap Management Co. CA now owns 15,965,989 shares of the biotechnology company’s stock valued at $5,051,320,000 after buying an additional 776,508 shares during the last quarter. State Street Corp lifted its stake in Biogen by 0.4% in the first quarter. State Street Corp now owns 8,262,242 shares of the biotechnology company’s stock valued at $2,614,008,000 after buying an additional 30,055 shares during the last quarter. Geode Capital Management LLC lifted its stake in Biogen by 2.1% in the first quarter. Geode Capital Management LLC now owns 3,372,294 shares of the biotechnology company’s stock valued at $1,065,558,000 after buying an additional 69,657 shares during the last quarter. AQR Capital Management LLC lifted its stake in Biogen by 5.5% in the second quarter. AQR Capital Management LLC now owns 2,236,171 shares of the biotechnology company’s stock valued at $583,059,000 after buying an additional 116,044 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Biogen by 1.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,337,631 shares of the biotechnology company’s stock worth $357,884,000 after purchasing an additional 25,567 shares during the last quarter. Institutional investors own 83.74% of the company’s stock.

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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