Biogen (NASDAQ:BIIB) Stock Rating Reaffirmed by HC Wainwright

Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $300.00 target price on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 33.21% from the stock’s previous close.

A number of other analysts have also recently commented on BIIB. Oppenheimer restated an “outperform” rating and set a $270.00 price target on shares of Biogen in a research note on Monday, April 29th. HSBC upped their price target on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Wedbush upped their target price on shares of Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Finally, Bank of America decreased their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and an average price target of $288.46.

Biogen Stock Down 1.1 %

BIIB opened at $225.21 on Thursday. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The stock has a market cap of $32.79 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.30 and a beta of -0.01. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76. The company’s 50-day moving average price is $212.94 and its two-hundred day moving average price is $229.92.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.40 earnings per share. As a group, equities analysts expect that Biogen will post 15.59 earnings per share for the current year.

Institutional Trading of Biogen

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Biogen by 15.0% in the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after acquiring an additional 2,163,068 shares during the period. Primecap Management Co. CA grew its stake in shares of Biogen by 1.6% in the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after acquiring an additional 251,915 shares during the period. Wellington Management Group LLP grew its stake in shares of Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after acquiring an additional 27,951 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Biogen by 22.2% in the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after buying an additional 316,144 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after buying an additional 45,437 shares during the last quarter. 87.93% of the stock is currently owned by 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.