Citigroup Downgrades Biogen Inc to Neutral

Brokerage firm Citigroup Downgrades its rating on Biogen Inc(NASDAQ:BIIB). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Citigroup was issued on Jun 7, 2016.

In a different note, On Apr 21, 2016, Goldman Sachs said it Maintains its rating on Biogen Inc. In the research note, the firm Raises the price-target to $271.00 per share. The shares have been rated ‘Neutral’ by the firm. BMO Capital said it Initiates Coverage on Biogen Inc, according to a research note issued on Apr 5, 2016. The shares have been rated ‘Market Perform’ by the firm. On Mar 11, 2016, Baird said it Maintains its rating on Biogen Inc. In the research note, the firm Lowers the price-target to $292.00 per share. The shares have been rated ‘Neutral’ by the firm.

Biogen Inc (BIIB) shares turned negative on Fridays trading session with the shares closing down -4.33 points or -1.73% at a volume of 24,55,325. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $249.04. The peak price level was also seen at $249.04 while the days lowest was $244.02. Finally the shares closed at $246.13. The 52-week high of the shares is $420.99 while the 52-week low is $242.07. According to the latest information available, the market cap of the company is $53,915 M.

Biogen Inc(BIIB) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.73B. Analysts had an estimated revenue of $2.75B. Earnings per share were $4.79. Analysts had estimated an EPS of $4.49.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, George A Scangos (Chief Executive Officer) sold 842 shares at $290.00 per share price.Also, On Apr 7, 2016, Adam Koppel (EVP, Strategy and Bus. Dev.) sold 102 shares at $275.00 per share price.On Feb 26, 2016, Alfred Sandrock (EVP CMO Neuro & Neurodegenerat) sold 183 shares at $261.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Biogen Inc. formerly Biogen Idec Inc. is a global biopharmaceutical company. The Company is focused on discovering developing manufacturing and delivering therapies for neurological autoimmune and hematologic disorders. The Company develops manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Company’s marketed products include AVONEX PLEGRIDY TECFIDERA TYSABRI FAMPYRA for multiple sclerosis (MS) ALPROLIX for hemophilia B and ELOCTATE for hemophilia A among others. It also collaborates on the development and commercialization of RITUXAN (rituximab) which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA which is for the treatment of chronic lymphocytic leukemia.

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