Biogen (NASDAQ:BIIB) Given New $139.00 Price Target at BMO Capital Markets

Biogen (NASDAQ:BIIB - Get Free Report) had its target price dropped by stock analysts at BMO Capital Markets from $156.00 to $139.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the biotechnology company's stock. BMO Capital Markets' price target points to a potential upside of 1.22% from the company's current price.

A number of other research firms also recently weighed in on BIIB. Piper Sandler downgraded Biogen from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $315.00 to $138.00 in a research report on Thursday, January 2nd. Morgan Stanley decreased their price objective on Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a report on Thursday. TD Cowen decreased their price objective on Biogen from $300.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price objective on the stock. Finally, William Blair reaffirmed an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of "Hold" and an average target price of $211.96.

Biogen Stock Performance

Shares of Biogen stock traded down $1.12 during trading on Thursday, reaching $137.33. The company's stock had a trading volume of 1,690,446 shares, compared to its average volume of 1,234,164. Biogen has a one year low of $128.51 and a one year high of $238.00. The firm has a market cap of $20.01 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The business's fifty day moving average price is $146.90 and its 200-day moving average price is $172.71. 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 (NASDAQ:BIIB - Get Free Report) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. As a group, equities research analysts predict that Biogen will post 16.42 earnings per share for the current year.

Institutional Trading of Biogen

A number of large investors have recently made changes to their positions in BIIB. Larson Financial Group LLC increased its position in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Biogen during the 4th quarter worth about $25,000. Colonial Trust Co SC boosted its stake in shares of Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after buying an additional 186 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Biogen during the 4th quarter worth about $32,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Biogen during the 3rd quarter worth about $33,000. 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.