Biogen (NASDAQ:BIIB) Receives “Buy” Rating from HC Wainwright

Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $300.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 72.62% from the stock’s current price.

Several other research firms have also recently issued reports on BIIB. Wedbush lowered their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. BMO Capital Markets lowered their price objective on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Robert W. Baird cut their target price on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Mizuho decreased their target price on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $285.00 to $204.00 in a research note on Thursday. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.83.

Biogen Trading Down 0.1 %

Shares of NASDAQ BIIB opened at $173.79 on Thursday. The company has a market cap of $25.31 billion, a PE ratio of 15.70, a P/E/G ratio of 1.82 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.48 and a current ratio of 1.26. The firm’s 50 day moving average price is $192.71 and its 200-day moving average price is $209.37. Biogen has a 52-week low of $173.14 and a 52-week high of $268.30.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the business posted $4.36 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts expect that Biogen will post 16.17 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Trading of Biogen

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Biogen by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after purchasing an additional 3,380 shares during the last quarter. Norden Group LLC grew its holdings in Biogen by 25.2% during the 1st quarter. Norden Group LLC now owns 1,440 shares of the biotechnology company’s stock valued at $311,000 after buying an additional 290 shares in the last quarter. Private Advisor Group LLC increased its stake in Biogen by 4.9% in the 1st quarter. Private Advisor Group LLC now owns 4,833 shares of the biotechnology company’s stock worth $1,042,000 after acquiring an additional 224 shares during the last quarter. Mission Wealth Management LP raised its holdings in shares of Biogen by 3.8% during the 1st quarter. Mission Wealth Management LP now owns 1,826 shares of the biotechnology company’s stock worth $394,000 after acquiring an additional 66 shares in the last quarter. Finally, Moloney Securities Asset Management LLC bought a new position in shares of Biogen during the 1st quarter valued at approximately $301,000. 87.93% of the stock is currently owned by institutional investors.

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.