Biogen (NASDAQ:BIIB) Earns “Buy” Rating from HC Wainwright

Biogen (NASDAQ:BIIB)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $300.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 72.62% from the stock’s previous close.

Several other equities research analysts have also commented on BIIB. Raymond James reiterated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research report on Monday, September 9th. Barclays decreased their target price on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho cut their price target on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $262.83.

Biogen Stock Down 0.1 %

BIIB stock opened at $173.79 on Thursday. The firm has a market capitalization of $25.31 billion, a PE ratio of 15.70, a P/E/G ratio of 1.82 and a beta of -0.06. The company has a quick ratio of 1.48, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a twelve month low of $173.14 and a twelve month high of $268.30. The stock’s 50 day moving average is $192.71 and its 200-day moving average is $209.37.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $4.36 EPS. Sell-side analysts expect that Biogen will post 16.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biogen

A number of large investors have recently added to or reduced their stakes in BIIB. Arlington Partners LLC increased its position in shares of Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after purchasing an additional 4,902 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Biogen in the 1st quarter worth approximately $1,290,000. Tocqueville Asset Management L.P. increased its position in Biogen by 924.4% during the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after purchasing an additional 41,690 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Biogen by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after buying an additional 3,380 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after acquiring an additional 10,425 shares in the last quarter. 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.