Guggenheim cut shares of Biogen (NASDAQ:BIIB) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Analyst Price Targets reports. They currently have $202.00 target price on the biotechnology company’s stock, down from their previous target price of $290.00.
A number of other analysts have also recently weighed in on BIIB. Piper Sandler cut Biogen from an overweight rating to a neutral rating and cut their price target for the company from $362.00 to $216.00 in a research note on Wednesday. Oppenheimer lowered their price target on Biogen from $390.00 to $350.00 and set an outperform rating on the stock in a report on Wednesday, December 22nd. HC Wainwright reaffirmed a buy rating and issued a $453.00 price objective on shares of Biogen in a report on Thursday, October 21st. Morgan Stanley decreased their price target on Biogen from $440.00 to $363.00 and set an overweight rating on the stock in a research note on Thursday, January 6th. Finally, Wells Fargo & Company lifted their price objective on Biogen from $250.00 to $284.00 in a research report on Thursday, December 30th. Seventeen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $322.99.
BIIB stock traded down $2.12 on Thursday, hitting $234.55. 20,107 shares of the company’s stock were exchanged, compared to its average volume of 2,007,888. Biogen has a 12-month low of $217.10 and a 12-month high of $468.55. The firm has a 50 day moving average price of $243.57 and a two-hundred day moving average price of $290.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 1.70. The stock has a market cap of $34.45 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44.
Several institutional investors and hedge funds have recently bought and sold shares of BIIB. Albion Financial Group UT acquired a new position in shares of Biogen during the 2nd quarter worth approximately $26,000. Avondale Wealth Management purchased a new position in Biogen in the 4th quarter valued at about $26,000. Larson Financial Group LLC acquired a new stake in shares of Biogen in the 2nd quarter valued at about $27,000. Evermay Wealth Management LLC acquired a new stake in shares of Biogen in the 2nd quarter valued at about $28,000. Finally, Viridian Ria LLC acquired a new stake in Biogen during the third quarter worth about $28,000. Institutional investors and hedge funds own 82.61% of the company’s stock.
Biogen Company Profile
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
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