HC Wainwright Cuts Biogen (NASDAQ:BIIB) Price Target to $241.00

Biogen (NASDAQ:BIIB) had its price objective cut by HC Wainwright from $300.00 to $241.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other analysts have also recently commented on the company. Canaccord Genuity Group dropped their price target on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Robert W. Baird boosted their price target on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $230.00 to $164.00 in a research report on Friday, December 20th. Finally, Wells Fargo & Company dropped their price target on Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $211.96.

Biogen Stock Down 0.8 %

Biogen stock opened at $137.33 on Thursday. The stock has a market capitalization of $20.01 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen has a 12 month low of $128.51 and a 12 month high of $238.00. The business has a 50 day simple moving average of $146.90 and a 200-day simple moving average of $173.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, analysts anticipate that Biogen will post 16.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Biogen

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in 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 acquiring an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Biogen during the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new position in Biogen during the 4th quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new position in Biogen during the 3rd quarter worth about $33,000. Finally, SRS Capital Advisors Inc. acquired a new position in Biogen during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.