Citigroup Issues Pessimistic Forecast for Biogen (NASDAQ:BIIB) Stock Price

Biogen (NASDAQ:BIIB) had its target price decreased by analysts at Citigroup from $160.00 to $145.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price objective would suggest a potential upside of 5.59% from the stock’s current price.

A number of other research firms have also recently weighed in on BIIB. HC Wainwright decreased their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen lowered their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and cut their price objective for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Bank of America reaffirmed a “neutral” rating and issued a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $211.96.

Biogen Stock Performance

Shares of BIIB opened at $137.33 on Thursday. The company’s 50 day simple moving average is $147.31 and its 200-day simple moving average is $173.80. The firm has a market cap of $20.01 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. As a group, equities analysts predict that Biogen will post 16.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wahed Invest LLC grew its holdings in shares of Biogen by 6.1% during the fourth quarter. Wahed Invest LLC now owns 3,752 shares of the biotechnology company’s stock worth $574,000 after buying an additional 216 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Biogen by 13.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,475 shares of the biotechnology company’s stock worth $990,000 after acquiring an additional 779 shares during the period. Kapitalo Investimentos Ltda raised its holdings in Biogen by 25.5% in the 4th quarter. Kapitalo Investimentos Ltda now owns 1,472 shares of the biotechnology company’s stock valued at $225,000 after acquiring an additional 299 shares during the last quarter. PDT Partners LLC lifted its stake in shares of Biogen by 138.9% during the 4th quarter. PDT Partners LLC now owns 39,405 shares of the biotechnology company’s stock worth $6,026,000 after purchasing an additional 22,908 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Biogen by 1,002.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 79,516 shares of the biotechnology company’s stock worth $12,160,000 after purchasing an additional 72,305 shares during the last quarter. Institutional investors and hedge funds 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.