Biogen (NASDAQ:BIIB) Shares Gap Down to $202.54

Biogen Inc. (NASDAQ:BIIBGet Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $202.54, but opened at $197.17. Biogen shares last traded at $202.68, with a volume of 1,916 shares trading hands.

A number of analysts recently issued reports on BIIB shares. SVB Leerink lowered their price target on Biogen from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, April 21st. Morgan Stanley lowered their price target on Biogen from $330.00 to $283.00 and set an “overweight” rating for the company in a report on Tuesday, April 12th. BMO Capital Markets lowered Biogen from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $260.00 to $238.00 in a report on Friday, February 4th. Barclays lowered their price target on Biogen from $219.00 to $210.00 in a report on Wednesday, May 4th. Finally, Needham & Company LLC lowered their target price on Biogen from $290.00 to $262.00 and set a “buy” rating for the company in a report on Friday, April 8th. Seventeen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Buy” and a consensus price target of $284.47.

The company has a market cap of $29.28 billion, a PE ratio of 20.73, a PEG ratio of 1.20 and a beta of 0.42. The company’s 50-day simple moving average is $207.06 and its 200 day simple moving average is $221.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.70 and a current ratio of 2.01.

Biogen (NASDAQ:BIIBGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The biotechnology company reported $3.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.41 by ($0.79). The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Biogen had a return on equity of 23.46% and a net margin of 13.40%. Biogen’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $5.34 earnings per share. Analysts forecast that Biogen Inc. will post 15.45 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in BIIB. Curi Wealth Management LLC lifted its position in shares of Biogen by 476.2% during the 1st quarter. Curi Wealth Management LLC now owns 121 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Avondale Wealth Management acquired a new stake in Biogen during the 4th quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new stake in Biogen during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new stake in Biogen during the 4th quarter worth $27,000. Finally, Amplius Wealth Advisors LLC acquired a new stake in Biogen during the 4th quarter worth $28,000. 83.92% of the stock is owned by institutional investors and hedge funds.

Biogen Company Profile (NASDAQ:BIIB)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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