Biogen (NASDAQ:BIIB) Price Target Cut to $139.00 by Analysts at BMO Capital Markets

Biogen (NASDAQ:BIIB) had its price objective reduced by BMO Capital Markets from $156.00 to $139.00 in a research report released on Thursday morning,Benzinga reports. They currently have a market perform rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley dropped their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Bank Of America (Bofa) cut their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday. Truist Financial lowered their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus target price of $211.96.

Biogen Stock Performance

Shares of Biogen stock opened at $138.45 on Thursday. The business has a fifty day simple moving average of $147.73 and a two-hundred day simple moving average of $174.05. The firm has a market capitalization of $20.17 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.65 and a beta of -0.08. Biogen has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

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

Institutional Trading of Biogen

A number of large investors have recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. grew its holdings in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC grew its stake in shares of Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

About Biogen

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.