Morgan Stanley Lowers Biogen (NASDAQ:BIIB) Price Target to $157.00

Biogen (NASDAQ:BIIB) had its price target lowered by Morgan Stanley from $192.00 to $157.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the biotechnology company’s stock.

A number of other equities analysts have also recently weighed in on the stock. Barclays decreased their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Piper Sandler lowered Biogen from an “overweight” rating to a “neutral” rating and cut their target price for the company from $315.00 to $138.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Bank of America reiterated a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company dropped their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday. Seventeen investment 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 Up 3.8 %

Shares of Biogen stock opened at $138.45 on Thursday. Biogen has a twelve month low of $128.51 and a twelve month high of $238.00. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $147.73 and a 200 day moving average price of $174.05.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that Biogen will post 16.42 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several large investors have recently added to or reduced their stakes in BIIB. Grandfield & Dodd LLC boosted its position in Biogen by 5.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 62 shares during the period. Quintet Private Bank Europe S.A. raised its stake in shares of Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares in the last quarter. Signaturefd LLC lifted its holdings in Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 71 shares during the period. Quent Capital LLC grew its position in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 77 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.