The Goldman Sachs Group Cuts Biogen (NASDAQ:BIIB) Price Target to $245.00

Biogen (NASDAQ:BIIB) had its target price reduced by equities research analysts at The Goldman Sachs Group from $281.00 to $245.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 79.01% from the company’s previous close.

Several other research analysts also recently commented on BIIB. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. TD Cowen reduced their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday. Oppenheimer reduced their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Barclays dropped their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Biogen has an average rating of “Hold” and an average target price of $213.63.

Biogen Trading Up 2.6 %

Biogen stock traded up $3.44 during midday trading on Thursday, reaching $136.87. The stock had a trading volume of 870,742 shares, compared to its average volume of 1,359,385. Biogen has a 52-week low of $128.51 and a 52-week high of $238.00. The company has a fifty day moving average of $147.73 and a 200 day moving average of $174.05. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, analysts anticipate that Biogen will post 16.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BIIB. Grandfield & Dodd LLC grew its stake in shares of Biogen by 5.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 62 shares during the period. Quintet Private Bank Europe S.A. increased its position in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares in the last quarter. Signaturefd LLC raised its stake in shares of Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after buying an additional 71 shares during the period. Quent Capital LLC lifted its position in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 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.