Biogen (NASDAQ:BIIB) Earns Neutral Rating from Wedbush

Biogen (NASDAQ:BIIB)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a note issued to investors on Thursday,Benzinga reports. They currently have a $121.00 target price on the biotechnology company’s stock. Wedbush’s price objective suggests a potential downside of 7.39% from the stock’s current price.

BIIB has been the subject of a number of other research reports. Morgan Stanley reduced their target price on Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday. The Goldman Sachs Group reduced their price objective on Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Piper Sandler reduced their price objective on Biogen from $135.00 to $115.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $188.19.

Biogen Stock Down 1.3%

Biogen stock opened at $130.65 on Thursday. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The business has a fifty day moving average price of $123.75 and a 200-day moving average price of $137.58. Biogen has a 1-year low of $110.04 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results 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 firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $3.67 EPS. Equities research analysts forecast that Biogen will post 15.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Biogen during the 1st quarter worth approximately $4,653,000. Jacobi Capital Management LLC boosted its holdings in shares of Biogen by 52.3% during the 1st quarter. Jacobi Capital Management LLC now owns 6,011 shares of the biotechnology company’s stock worth $823,000 after purchasing an additional 2,064 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Biogen by 448.7% during the 1st quarter. Acadian Asset Management LLC now owns 17,557 shares of the biotechnology company’s stock worth $2,401,000 after purchasing an additional 14,357 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Biogen by 0.9% during the 1st quarter. IFM Investors Pty Ltd now owns 33,729 shares of the biotechnology company’s stock valued at $4,615,000 after buying an additional 304 shares during the period. Finally, Focus Partners Wealth raised its position in shares of Biogen by 172.2% during the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock valued at $1,392,000 after buying an additional 6,436 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.