Biogen (NASDAQ:BIIB) Given New $300.00 Price Target at HC Wainwright

Biogen (NASDAQ:BIIB) had its target price decreased by research analysts at HC Wainwright from $325.00 to $300.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 48.52% from the company’s current price.

A number of other equities research analysts have also weighed in on BIIB. Oppenheimer reduced their price objective on Biogen from $290.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. Robert W. Baird dropped their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. reduced their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Finally, Mizuho reduced their price objective on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Biogen Stock Up 4.6 %

BIIB stock opened at $201.99 on Thursday. The firm has a 50-day moving average price of $213.18 and a 200-day moving average price of $234.39. Biogen has a 12 month low of $189.44 and a 12 month high of $319.76. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $29.36 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.84 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company earned $4.05 earnings per share. As a group, equities research analysts anticipate that Biogen will post 15.47 EPS for the current fiscal year.

Insider Activity

In other news, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Priya Singhal sold 419 shares of Biogen 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 of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stratos Wealth Partners LTD. lifted its position in shares of Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after purchasing an additional 42 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Biogen by 2.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 45 shares during the period. PAX Financial Group LLC raised its holdings in shares of Biogen by 2.9% in the 3rd quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after purchasing an additional 45 shares during the last quarter. Finally, Ballentine Partners LLC grew its holdings in Biogen by 3.2% during the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock valued at $393,000 after purchasing an additional 48 shares during the period. 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.