Biogen Inc. (NASDAQ:BIIB – Get 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.
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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