Biogen (NASDAQ:BIIB) Price Target Raised to $300.00

Biogen (NASDAQ:BIIB) had its price target increased by Robert W. Baird from $294.00 to $300.00 in a research report report published on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the biotechnology company’s stock.

Several other research firms also recently commented on BIIB. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Wedbush cut their price target on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. lowered their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Mizuho cut their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, TD Cowen lowered their price target on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.96.

Biogen Stock Down 1.3 %

Shares of NASDAQ:BIIB opened at $157.94 on Friday. 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 has a 52-week low of $157.40 and a 52-week high of $268.30. The business’s 50 day simple moving average is $185.16 and its two-hundred day simple moving average is $206.88. The firm has a market cap of $23.01 billion, a P/E ratio of 14.27, a PEG ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $4.36 EPS. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, research analysts forecast that Biogen will post 16.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Biogen

Hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 49 shares during the period. QRG Capital Management Inc. grew its position in Biogen by 2.0% during the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock worth $568,000 after buying an additional 51 shares in the last quarter. Plato Investment Management Ltd increased its stake in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Biogen by 3.4% in the 1st quarter. Jacobi Capital Management LLC now owns 1,664 shares of the biotechnology company’s stock valued at $359,000 after acquiring an additional 55 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Biogen by 1.7% during the 2nd quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock valued at $873,000 after acquiring an additional 62 shares during the last quarter. 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.