Biogen (NASDAQ:BIIB) Receives Neutral Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of Biogen (NASDAQ:BIIB) in a report released on Thursday morning,Benzinga reports. Piper Sandler currently has a $115.00 target price on the biotechnology company’s stock.

BIIB has been the topic of several other reports. Argus lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Friday, April 4th. BMO Capital Markets cut their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Wedbush reiterated a “neutral” rating and issued a $121.00 target price on shares of Biogen in a report on Thursday. Robert W. Baird cut their target price on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Royal Bank of Canada cut their target price on shares of Biogen from $217.00 to $205.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $188.19.

Biogen Price Performance

Shares of BIIB stock opened at $132.31 on Thursday. Biogen has a 52-week low of $110.04 and a 52-week high of $238.00. The stock has a market cap of $19.39 billion, a PE ratio of 11.82, a PEG ratio of 1.51 and a beta of 0.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm’s 50 day moving average price is $123.41 and its two-hundred day moving average price is $137.76.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Biogen’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.67 earnings per share. As a group, analysts forecast that Biogen will post 15.83 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Biogen during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Biogen during the 1st quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in shares of Biogen during the 1st quarter worth about $27,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen during the 1st quarter worth about $27,000. Institutional investors own 87.93% of the company’s stock.

About Biogen

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.