Biogen (NASDAQ:BIIB - Get Free Report) had its price target cut by analysts at Wells Fargo & Company from $190.00 to $165.00 in a report released on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the biotechnology company's stock. Wells Fargo & Company's price target suggests a potential upside of 10.87% from the stock's current price.
A number of other research firms also recently weighed in on BIIB. Wolfe Research started coverage on Biogen in a research report on Friday, November 15th. They issued a "peer perform" rating for the company. UBS Group cut their price objective on shares of Biogen from $234.00 to $202.00 and set a "neutral" rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $270.00 target price on the stock. in a report on Monday, November 18th. Citigroup assumed coverage on shares of Biogen in a research note on Thursday, November 14th. They issued a "neutral" rating and a $190.00 price target for the company. Finally, Raymond James reaffirmed a "market perform" rating on shares of Biogen in a research note on Thursday, October 10th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $230.00.
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Biogen Price Performance
NASDAQ BIIB traded down $1.93 during trading hours on Friday, hitting $148.82. The company had a trading volume of 1,256,254 shares, compared to its average volume of 1,168,559. The firm has a 50 day simple moving average of $157.88 and a 200 day simple moving average of $188.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a market capitalization of $21.69 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.74 and a beta of -0.07. Biogen has a 52 week low of $145.07 and a 52 week high of $252.94.
Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company's revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.36 EPS. Equities research analysts expect that Biogen will post 16.43 earnings per share for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in BIIB. West Oak Capital LLC grew its position in Biogen by 2,000.0% during the 4th quarter. West Oak Capital LLC now owns 945 shares of the biotechnology company's stock valued at $145,000 after purchasing an additional 900 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after buying an additional 79 shares during the last quarter. Farmers Trust Co. bought a new stake in shares of Biogen during the fourth quarter valued at approximately $1,965,000. Diversified Trust Co raised its holdings in Biogen by 0.6% in the 4th quarter. Diversified Trust Co now owns 22,926 shares of the biotechnology company's stock worth $3,506,000 after acquiring an additional 143 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Biogen by 48.0% in the 4th quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company's stock valued at $17,901,000 after acquiring an additional 38,283 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.
Biogen Company Profile
(
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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.
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