HC Wainwright Issues Pessimistic Forecast for Biogen (NASDAQ:BIIB) Stock Price

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

A number of other brokerages also recently issued reports on BIIB. Citigroup lowered their price target on Biogen from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Bank Of America (Bofa) lowered their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and reduced their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Finally, Robert W. Baird lifted their target price on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $211.96.

Biogen Stock Up 3.8 %

NASDAQ:BIIB opened at $138.45 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a market cap of $20.17 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.65 and a beta of -0.08. Biogen has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The firm has a 50-day simple moving average of $147.73 and a two-hundred day simple moving average of $174.05.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Analysts predict that Biogen will post 16.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biogen

Institutional investors have recently bought and sold shares of the stock. Grandfield & Dodd LLC boosted its holdings in shares of Biogen by 5.2% during the 3rd 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. lifted its position in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after buying an additional 63 shares in the last quarter. Signaturefd LLC boosted its stake in Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after buying an additional 71 shares during the last quarter. Quent Capital LLC grew its holdings in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its stake 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 acquiring an additional 77 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.