Biogen (NASDAQ:BIIB) Given New $215.00 Price Target at Wedbush

Biogen (NASDAQ:BIIB) had its price target boosted by equities research analysts at Wedbush from $213.00 to $215.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. Wedbush’s price objective points to a potential upside of 6.44% from the company’s current price.

Several other research analysts have also weighed in on BIIB. Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. HC Wainwright lowered their price objective on shares of Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Piper Sandler dropped their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, Barclays reduced their target price on Biogen from $230.00 to $215.00 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and a consensus price target of $294.46.

Biogen Trading Up 4.6 %

Shares of BIIB stock opened at $201.99 on Thursday. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The stock has a market cap of $29.36 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.84 and a beta of -0.02. The stock has a 50-day moving average of $213.18 and a 200-day moving average of $234.39.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $3.40 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Biogen will post 15.47 earnings per share for the current year.

Insider Activity at Biogen

In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last three months, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Biogen

Several large investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. grew its holdings in Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after purchasing an additional 42 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Biogen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 45 shares during the period. PAX Financial Group LLC increased its holdings in Biogen by 2.9% in the 3rd quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after acquiring an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Biogen by 2.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after acquiring an additional 45 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in Biogen by 3.2% during the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock valued at $393,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other 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.