Biogen (NASDAQ:BIIB) Stock Rating Reaffirmed by Truist Financial

Truist Financial restated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research note issued to investors on Monday, Benzinga reports. Truist Financial currently has a $340.00 price target on the biotechnology company’s stock.

A number of other research firms also recently weighed in on BIIB. Piper Sandler cut their target price on Biogen from $350.00 to $325.00 and set an overweight rating for the company in a research report on Wednesday, February 14th. BMO Capital Markets reduced their price objective on shares of Biogen from $295.00 to $285.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. Wells Fargo & Company downgraded shares of Biogen from an overweight rating to an equal weight rating and cut their price target for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Oppenheimer decreased their price objective on shares of Biogen from $295.00 to $290.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. Finally, UBS Group cut their target price on Biogen from $276.00 to $250.00 and set a neutral rating for the company in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $305.68.

Biogen Stock Down 0.3 %

Biogen stock opened at $215.63 on Monday. The company’s 50-day moving average price is $229.71 and its two-hundred day moving average price is $242.07. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The stock has a market cap of $31.34 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.77 and a beta of -0.03. Biogen has a twelve month low of $211.01 and a twelve month high of $319.76.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter last year, the firm earned $4.05 EPS. As a group, analysts expect that Biogen will post 15.48 EPS for the current year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 789 shares of company stock valued at $182,213. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Biogen

A number of hedge funds and other institutional investors have recently made changes to their positions in BIIB. Nomura Holdings Inc. bought a new stake in Biogen in the fourth quarter worth about $757,000. HighPoint Advisor Group LLC purchased a new position in shares of Biogen in the fourth quarter valued at $496,000. Livelsberger Financial Advisory purchased a new position in Biogen during the 4th quarter valued at about $26,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Biogen during the 4th quarter valued at $6,469,000. Finally, M3 Advisory Group LLC purchased a new stake in Biogen in the fourth quarter valued at approximately $219,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.