Biogen (NASDAQ:BIIB) Given New $210.00 Price Target at Truist Financial

Biogen (NASDAQ:BIIB) had its target price cut by Truist Financial from $220.00 to $210.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and lowered their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. Wolfe Research assumed coverage on shares of Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $211.96.

Biogen Trading Up 3.8 %

Shares of NASDAQ:BIIB opened at $138.45 on Thursday. The firm has a fifty day moving average of $147.73 and a two-hundred day moving average of $174.05. 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 has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a market capitalization of $20.17 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping 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 expect that Biogen will post 16.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors and hedge funds have recently bought and sold shares of BIIB. Lee Danner & Bass Inc. bought a new position in shares of Biogen during the 4th quarter worth about $25,000. Larson Financial Group LLC increased its stake in Biogen by 640.9% in the fourth 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. Ashton Thomas Securities LLC acquired a new position in Biogen in the third quarter worth about $33,000. SRS Capital Advisors Inc. bought a new position in Biogen during the fourth quarter worth about $33,000. Finally, Venturi Wealth Management LLC lifted its stake in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 93 shares during the period. 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.