HC Wainwright Lowers Biogen (NASDAQ:BIIB) Price Target to $241.00

Biogen (NASDAQ:BIIB) had its price objective lowered by equities research analysts at HC Wainwright from $300.00 to $241.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 75.49% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on BIIB. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Mizuho dropped their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Oppenheimer reduced their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $211.96.

Biogen Stock Down 0.8 %

BIIB stock opened at $137.33 on Thursday. Biogen has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The company has a market capitalization of $20.01 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The business’s 50 day moving average price is $147.31 and its two-hundred day moving average price is $173.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

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, topping 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%. As a group, analysts forecast that Biogen will post 16.42 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its stake in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Biogen in the fourth quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in shares of Biogen in the fourth quarter worth $32,000. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen in the third quarter worth $33,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Biogen during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.