HC Wainwright Lowers Biogen (NASDAQ:BIIB) Price Target to $241.00

Biogen (NASDAQ:BIIB) had its target price dropped by research analysts at HC Wainwright from $300.00 to $241.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 80.62% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday. Sanford C. Bernstein began coverage on shares of Biogen in a research report on Tuesday. They set a “market perform” rating and a $160.00 price target on the stock. Citigroup decreased their price objective on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price target on Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Finally, BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $230.00 to $164.00 in a report on Friday, December 20th. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has an average rating of “Hold” and a consensus target price of $217.46.

Biogen Stock Performance

BIIB opened at $133.43 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a 50 day moving average of $147.73 and a two-hundred day moving average of $174.05. The firm has a market capitalization of $19.44 billion, a PE ratio of 12.05, a P/E/G ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. On average, analysts anticipate that Biogen will post 16.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its holdings in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Biogen during the 4th quarter worth $25,000. OFI Invest Asset Management acquired a new stake in shares of Biogen during the 4th quarter worth about $32,000. Ashton Thomas Securities LLC purchased a new stake in Biogen in the 3rd quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. acquired a new position in Biogen in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.