Biogen (NASDAQ:BIIB – Get Rating) had its target price lowered by Oppenheimer from $285.00 to $240.00 in a research report released on Friday morning, The Fly reports. The firm currently has an outperform rating on the biotechnology company’s stock. Oppenheimer also issued estimates for Biogen’s FY2023 earnings at $17.72 EPS and FY2024 earnings at $19.42 EPS.
Several other equities research analysts have also recently weighed in on the company. Truist Financial dropped their target price on Biogen from $502.00 to $343.00 and set a buy rating for the company in a report on Monday, January 10th. HC Wainwright dropped their price objective on Biogen from $452.00 to $270.00 and set a buy rating for the company in a report on Tuesday, January 18th. Cowen dropped their price objective on Biogen from $375.00 to $285.00 and set an outperform rating for the company in a report on Friday, February 4th. Royal Bank of Canada upgraded Biogen from a sector perform rating to an outperform rating and increased their price objective for the stock from $227.00 to $248.00 in a report on Thursday, March 3rd. Finally, Piper Sandler cut Biogen from an overweight rating to a neutral rating and dropped their price objective for the stock from $362.00 to $216.00 in a report on Wednesday, January 12th. Eighteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of Hold and a consensus target price of $287.28.
Shares of BIIB stock opened at $210.62 on Friday. The stock has a market capitalization of $30.95 billion, a PE ratio of 20.25, a P/E/G ratio of 1.33 and a beta of 0.44. Biogen has a 1-year low of $192.67 and a 1-year high of $468.55. The business has a 50-day moving average of $210.54 and a 200 day moving average of $237.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.83 and a quick ratio of 1.51.
Several institutional investors have recently bought and sold shares of BIIB. BOKF NA bought a new stake in shares of Biogen in the third quarter worth $7,502,000. UBS Asset Management Americas Inc. grew its holdings in shares of Biogen by 9.4% in the third quarter. UBS Asset Management Americas Inc. now owns 1,244,986 shares of the biotechnology company’s stock worth $352,319,000 after acquiring an additional 106,513 shares during the period. Banque Pictet & Cie SA grew its holdings in shares of Biogen by 49.2% in the third quarter. Banque Pictet & Cie SA now owns 22,262 shares of the biotechnology company’s stock worth $6,300,000 after acquiring an additional 7,338 shares during the period. Gotham Asset Management LLC grew its holdings in shares of Biogen by 372.2% in the third quarter. Gotham Asset Management LLC now owns 13,742 shares of the biotechnology company’s stock worth $3,889,000 after acquiring an additional 10,832 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of Biogen by 105.4% in the third quarter. Nordea Investment Management AB now owns 913,972 shares of the biotechnology company’s stock worth $262,000,000 after acquiring an additional 468,973 shares during the period. 82.10% of the stock is owned by institutional investors and hedge funds.
Biogen Company Profile (Get Rating)
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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