HC Wainwright Issues Pessimistic Forecast for Biogen (NASDAQ:BIIB) Stock Price

Biogen (NASDAQ:BIIB - Get Free Report) had its price target lowered by HC Wainwright from $241.00 to $187.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the biotechnology company's stock. HC Wainwright's price objective indicates a potential upside of 51.38% from the company's previous close.

BIIB has been the subject of several other reports. Needham & Company LLC restated a "hold" rating on shares of Biogen in a report on Friday. William Blair reaffirmed an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Wells Fargo & Company reduced their target price on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Scotiabank lowered their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Robert W. Baird decreased their price target on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a report on Friday. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $195.85.

Biogen Trading Up 2.2 %

Shares of BIIB traded up $2.60 during mid-day trading on Friday, reaching $123.53. The company's stock had a trading volume of 1,460,036 shares, compared to its average volume of 1,356,243. The stock has a market cap of $18.08 billion, a PE ratio of 11.04, a P/E/G ratio of 1.51 and a beta of 0.13. The company's fifty day moving average price is $130.58 and its two-hundred day moving average price is $146.45. Biogen has a 52 week low of $110.04 and a 52 week 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.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data 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). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter last year, the business posted $3.67 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Institutional Trading of Biogen

Several hedge funds and other institutional investors have recently bought and sold shares of BIIB. Vanguard Group Inc. lifted its stake in Biogen by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock valued at $2,561,238,000 after buying an additional 70,368 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Biogen by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock valued at $563,709,000 after purchasing an additional 82,456 shares during the period. Pacer Advisors Inc. lifted its holdings in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. Norges Bank acquired a new stake in Biogen during the fourth quarter valued at approximately $355,569,000. Finally, Invesco Ltd. grew its holdings in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after acquiring an additional 499,074 shares during the last quarter. 87.93% of the stock is 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.