Biogen (NASDAQ:BIIB) Earns Neutral Rating from Wedbush

Biogen (NASDAQ:BIIB - Get Free Report)'s stock had its "neutral" rating reissued by analysts at Wedbush in a research report issued on Thursday,Benzinga reports. They presently have a $121.00 target price on the biotechnology company's stock. Wedbush's price objective suggests a potential downside of 8.55% from the stock's current price.

A number of other equities research analysts have also issued reports on the stock. Truist Financial dropped their price objective on shares of Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. HC Wainwright cut their target price on shares of Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Oppenheimer set a $205.00 target price on shares of Biogen in a research report on Friday, May 2nd. Hsbc Global Res lowered shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Royal Bank of Canada cut their target price on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $188.19.

Biogen Trading Down 0.6%

Shares of BIIB stock traded down $0.75 during trading hours on Thursday, reaching $132.31. 1,147,471 shares of the stock were exchanged, compared to its average volume of 1,422,725. Biogen has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company's 50-day moving average price is $123.15 and its 200-day moving average price is $137.95. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.51 and a beta of 0.14.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.67 EPS. As a group, equities analysts anticipate that Biogen will post 15.83 earnings per share for the current year.

Institutional Investors Weigh In On Biogen

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock worth $2,330,774,000 after purchasing an additional 283,964 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Biogen by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after purchasing an additional 82,456 shares in the last quarter. Norges Bank bought a new position in Biogen during the fourth quarter valued at approximately $355,569,000. Invesco Ltd. boosted its stake in Biogen by 6.4% during the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock valued at $309,944,000 after buying an additional 136,200 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Biogen by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock valued at $295,705,000 after buying an additional 21,170 shares during the last quarter. 87.93% of the stock is currently owned by 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.