Biogen (NASDAQ:BIIB) Given New $139.00 Price Target at BMO Capital Markets

Biogen (NASDAQ:BIIB) had its price target dropped by research analysts at BMO Capital Markets from $156.00 to $139.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the biotechnology company’s stock. BMO Capital Markets’ target price suggests a potential upside of 0.90% from the stock’s current price.

Several other research firms also recently weighed in on BIIB. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. HC Wainwright cut their price objective on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Finally, Oppenheimer lowered their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $212.70.

Biogen Price Performance

BIIB stock traded up $4.33 during trading on Thursday, hitting $137.76. The stock had a trading volume of 948,747 shares, compared to its average volume of 1,360,201. The company’s 50-day moving average price is $147.73 and its two-hundred day moving average price is $174.05. Biogen has a twelve month low of $128.51 and a twelve month high of $238.00. The stock has a market capitalization of $20.07 billion, a P/E ratio of 12.44, a PEG ratio of 1.65 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. As a group, research analysts predict that Biogen will post 16.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Grandfield & Dodd LLC increased its holdings in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. increased its holdings in shares of Biogen by 9.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 63 shares during the last quarter. Signaturefd LLC raised its position in shares of Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 71 shares in the last quarter. Quent Capital LLC lifted its stake in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.