Biogen (NASDAQ:BIIB) Cut to Moderate Sell at Hsbc Global Res

Hsbc Global Res downgraded shares of Biogen (NASDAQ:BIIB) from a hold rating to a moderate sell rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on BIIB. Stifel Nicolaus raised shares of Biogen from a “hold” rating to a “buy” rating and upped their price objective for the company from $144.00 to $202.00 in a report on Thursday, November 6th. Wall Street Zen lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Robert W. Baird cut their price target on shares of Biogen from $255.00 to $250.00 in a report on Friday, October 31st. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company upped their price objective on Biogen from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $182.48.

Biogen Price Performance

NASDAQ:BIIB opened at $174.10 on Wednesday. Biogen has a one year low of $110.04 and a one year high of $185.17. The stock has a market cap of $25.54 billion, a PE ratio of 15.87, a P/E/G ratio of 1.45 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. The stock has a 50 day moving average price of $161.44 and a 200 day moving average price of $143.72.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the business earned $4.08 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities research analysts expect that Biogen will post 15.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Biogen during the 2nd quarter worth approximately $284,358,000. AQR Capital Management LLC grew its stake in shares of Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after acquiring an additional 829,150 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after acquiring an additional 509,809 shares during the period. Caisse de depot et placement du Quebec raised its stake in shares of Biogen by 718.2% in the third quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company’s stock valued at $79,741,000 after acquiring an additional 499,676 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Biogen by 190.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock valued at $78,415,000 after purchasing an additional 409,591 shares during the period. 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.