Biogen’s (BIIB) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Biogen (NASDAQ:BIIB) in a research report released on Tuesday,Benzinga reports. The firm currently has a $135.00 target price on the biotechnology company’s stock, down from their prior target price of $138.00.

BIIB has been the subject of a number of other reports. Truist Financial lowered their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Oppenheimer lowered their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. TD Cowen reduced their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. BMO Capital Markets cut their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup decreased their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Biogen has a consensus rating of “Hold” and an average target price of $211.85.

Biogen Stock Up 0.3 %

NASDAQ:BIIB opened at $137.08 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market capitalization of $20.07 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.47 and a beta of -0.08. The company’s 50-day simple moving average is $145.71 and its 200-day simple moving average is $171.46. Biogen has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities analysts anticipate that Biogen will post 15.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently bought and sold shares of BIIB. Mackenzie Financial Corp increased its position in shares of Biogen by 140.3% during the fourth quarter. Mackenzie Financial Corp now owns 33,846 shares of the biotechnology company’s stock worth $5,176,000 after purchasing an additional 19,759 shares in the last quarter. Forum Financial Management LP lifted its stake in Biogen by 26.5% in the 4th quarter. Forum Financial Management LP now owns 3,804 shares of the biotechnology company’s stock worth $582,000 after purchasing an additional 796 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Biogen by 20.4% in the fourth quarter. Toronto Dominion Bank now owns 72,671 shares of the biotechnology company’s stock valued at $11,111,000 after purchasing an additional 12,301 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $5,236,000. Finally, Vise Technologies Inc. purchased a new position in Biogen during the fourth quarter worth approximately $250,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.