Biogen’s (BIIB) Neutral Rating Reaffirmed at Wedbush

Biogen (NASDAQ:BIIB)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a report released on Thursday,Benzinga reports. They presently have a $121.00 price objective on the biotechnology company’s stock. Wedbush’s price target would suggest a potential downside of 7.39% from the company’s previous close.

A number of other analysts have also issued reports on BIIB. Oppenheimer set a $205.00 target price on Biogen in a research report on Friday, May 2nd. Truist Financial cut their target price on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. BMO Capital Markets cut their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. Scotiabank cut their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Royal Bank of Canada cut their target price on Biogen from $217.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $188.19.

Biogen Stock Down 1.3%

BIIB stock opened at $130.65 on Thursday. The firm has a market cap of $19.14 billion, a PE 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 quick ratio of 0.90 and a current ratio of 1.35. The firm’s 50 day moving average price is $123.75 and its 200-day moving average price is $137.58. Biogen has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last announced 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 net margin of 16.87% and a return on equity of 14.98%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.67 EPS. On average, equities research analysts anticipate that Biogen will post 15.83 EPS for the current year.

Hedge Funds Weigh In On Biogen

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its stake in Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after acquiring an additional 71 shares in the last quarter. Quent Capital LLC boosted its stake in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares in the last quarter. Principal Securities Inc. boosted its stake in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares in the last quarter. Israel Discount Bank of New York boosted its stake in Biogen by 6.2% in the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 82 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its stake in Biogen by 5.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company’s stock valued at $247,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds 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.