Biogen (NASDAQ:BIIB) Rating Lowered to Neutral at Guggenheim

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.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 19th. The biotechnology company reported $4.77 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.68. The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Biogen had a return on equity of 28.36% and a net margin of 13.93%. The business’s revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.84 earnings per share. Sell-side analysts expect that Biogen will post 19.18 earnings per share for the current fiscal year.

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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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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