Investment Analysts’ Recent Ratings Changes for Biogen (BIIB)

A number of research firms have changed their ratings and price targets for Biogen (NASDAQ: BIIB):

• 4/21/2022 – Biogen had its price target lowered by analysts at SVB Leerink LLC from $300.00 to $270.00. They now have an “outperform” rating on the stock.
• 4/18/2022 – Biogen was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $265.00 price target on the stock, up previously from $235.00.
• 4/12/2022 – Biogen had its price target lowered by analysts at Morgan Stanley from $330.00 to $283.00. They now have an “overweight” rating on the stock.
• 4/12/2022 – Biogen had its price target lowered by analysts at Barclays PLC from $235.00 to $219.00. They now have an “equal weight” rating on the stock.
• 4/11/2022 – Biogen was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 4/8/2022 – Biogen had its price target lowered by analysts at Oppenheimer Holdings Inc. from $285.00 to $240.00. They now have an “outperform” rating on the stock.
• 4/8/2022 – Biogen had its price target lowered by analysts at Needham & Company LLC from $290.00 to $262.00. They now have a “buy” rating on the stock.
• 3/28/2022 – Biogen had its price target lowered by analysts at Bank of America Co. from $230.00 to $225.00. They now have a “neutral” rating on the stock.
• 3/25/2022 – Biogen was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 3/25/2022 – Biogen had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $285.00 price target on the stock.
• 3/8/2022 – Biogen was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $223.00 price target on the stock, down previously from $304.00.
• 3/3/2022 – Biogen was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $248.00 price target on the stock, up previously from $227.00.

BIIB stock traded down $2.03 during midday trading on Thursday, reaching $218.40. 931,805 shares of the company were exchanged, compared to its average volume of 1,306,613. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.83. The company has a market cap of $32.10 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.32 and a beta of 0.44. The stock’s 50-day simple moving average is $209.46 and its 200 day simple moving average is $234.57. Biogen Inc. has a 1-year low of $192.67 and a 1-year high of $468.55.

Biogen (NASDAQ:BIIB – Get Rating) last announced its earnings results on Thursday, February 3rd. The biotechnology company reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.07. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.62 billion. Biogen had a net margin of 14.17% and a return on equity of 26.30%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $4.58 earnings per share. On average, research analysts anticipate that Biogen Inc. will post 15.47 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Avondale Wealth Management purchased a new position in shares of Biogen during the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Biogen during the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in shares of Biogen during the fourth quarter worth approximately $27,000. Amplius Wealth Advisors LLC purchased a new position in Biogen in the 4th quarter valued at $28,000. Finally, Evolution Wealth Advisors LLC grew its position in Biogen by 96.7% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 120 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 82.10% of the company’s stock.

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.

See Also