Biogen (NASDAQ:BIIB - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $187.00 price objective on the biotechnology company's stock. HC Wainwright's price objective suggests a potential upside of 46.89% from the company's previous close.
Several other equities analysts have also weighed in on the company. Canaccord Genuity Group reduced their price objective on Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Mizuho cut their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target on the stock. in a research note on Monday, April 28th. Morgan Stanley decreased their price objective on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, Royal Bank Of Canada lifted their target price on Biogen from $205.00 to $213.00 and gave the company an "outperform" rating in a report on Wednesday. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Biogen has a consensus rating of "Hold" and an average price target of $188.48.
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Biogen Price Performance
Shares of NASDAQ BIIB opened at $127.31 on Thursday. Biogen has a 1-year low of $110.04 and a 1-year high of $238.00. The firm has a market capitalization of $18.65 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.00 and a beta of 0.14. The firm's 50-day moving average price is $125.37 and its 200-day moving average price is $135.73. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly 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). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the business posted $3.67 EPS. Biogen's revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Biogen will post 15.83 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Biogen
A number of institutional investors and hedge funds have recently made changes to their positions in BIIB. Principal Securities Inc. lifted its position in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock valued at $52,000 after purchasing an additional 78 shares in the last quarter. Advisor OS LLC bought a new position in shares of Biogen during the 4th quarter valued at approximately $431,000. Proficio Capital Partners LLC purchased a new stake in Biogen in the 4th quarter worth approximately $5,028,000. SVB Wealth LLC bought a new stake in Biogen during the 4th quarter worth approximately $319,000. Finally, Fisher Asset Management LLC boosted its position in shares of Biogen by 171.0% in the fourth quarter. Fisher Asset Management LLC now owns 180,924 shares of the biotechnology company's stock worth $27,667,000 after purchasing an additional 114,156 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.
About Biogen
(
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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.
Further Reading
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