Biogen (NASDAQ:BIIB) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Biogen (NASDAQ:BIIB) in a research note released on Thursday morning,Benzinga reports. HC Wainwright currently has a $187.00 price objective on the biotechnology company’s stock.

Several other equities analysts also recently commented on BIIB. Morgan Stanley lowered their price objective on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price target on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Truist Financial reduced their price objective on shares of Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. The Goldman Sachs Group dropped their target price on shares of Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $115.00 target price on shares of Biogen in a research note on Thursday, June 12th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has an average rating of “Hold” and an average target price of $188.48.

Biogen Trading Down 0.3%

Shares of BIIB stock opened at $126.92 on Thursday. The firm has a fifty day moving average price of $125.53 and a 200-day moving average price of $135.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01. Biogen has a 1 year low of $110.04 and a 1 year high of $238.00. The company has a market cap of $18.60 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 1.01 and a beta of 0.14.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.03% and a net margin of 15.07%. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company posted $3.67 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that Biogen will post 15.83 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of Biogen during the first quarter valued at $992,000. Swedbank AB increased its position in Biogen by 18.5% during the 1st quarter. Swedbank AB now owns 218,039 shares of the biotechnology company’s stock valued at $29,836,000 after purchasing an additional 33,994 shares during the period. Strs Ohio bought a new stake in shares of Biogen in the 1st quarter valued at about $4,653,000. Jacobi Capital Management LLC lifted its position in shares of Biogen by 52.3% in 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 period. Finally, Acadian Asset Management LLC boosted its stake in shares of Biogen by 448.7% during the first quarter. Acadian Asset Management LLC now owns 17,557 shares of the biotechnology company’s stock valued at $2,401,000 after purchasing an additional 14,357 shares in the last quarter. 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.