Biogen (NASDAQ:BIIB) Cut to “Hold” at Hsbc Global Res

Hsbc Global Res lowered shares of Biogen (NASDAQ:BIIB) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. William Blair restated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Sanford C. Bernstein began coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Friday, April 25th. Bank Of America (Bofa) lowered their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, BMO Capital Markets reduced their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and a consensus price target of $201.93.

Biogen Price Performance

BIIB opened at $121.08 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $131.39 and its 200 day simple moving average is $148.00. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.51 and a beta of 0.06. Biogen has a 1 year low of $110.04 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB) last issued its 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, analysts predict that Biogen will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several institutional investors have recently made changes to their positions in the business. Lee Danner & Bass Inc. purchased a new stake in Biogen during the fourth quarter valued at approximately $25,000. Larson Financial Group LLC increased its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Colonial Trust Co SC raised its holdings in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 186 shares during the period. Opal Wealth Advisors LLC purchased a new position in Biogen during the first quarter valued at $26,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Biogen in the fourth quarter worth about $33,000. Institutional investors own 87.93% of the company’s stock.

About Biogen

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.