Wells Fargo & Company Issues Pessimistic Forecast for Biogen (NASDAQ:BIIB) Stock Price

Biogen (NASDAQ:BIIB) had its price target decreased by stock analysts at Wells Fargo & Company from $190.00 to $165.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.87% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research report on Monday, December 16th. Robert W. Baird increased their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Finally, Raymond James reissued a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $230.00.

Biogen Trading Down 1.3 %

Shares of NASDAQ:BIIB opened at $148.82 on Friday. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.74 and a beta of -0.07. Biogen has a 1-year low of $145.07 and a 1-year high of $252.94. The company has a 50 day moving average price of $157.38 and a 200 day moving average price of $187.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company posted $4.36 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Grandfield & Dodd LLC grew its position in shares of Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. boosted its stake in Biogen by 9.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares during the period. TD Private Client Wealth LLC increased its position in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after buying an additional 77 shares during the period. Huntington National Bank boosted its position in shares of Biogen by 3.5% in the third quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after acquiring an additional 79 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after acquiring an additional 79 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.