Biogen (NASDAQ:BIIB) Price Target Cut to $245.00 by Analysts at The Goldman Sachs Group

Biogen (NASDAQ:BIIB) had its price target cut by The Goldman Sachs Group from $281.00 to $245.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also recently issued reports on BIIB. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. TD Cowen dropped their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Bank of America reissued a “neutral” rating and set a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Royal Bank of Canada dropped their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a report on Monday, December 16th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $211.96.

Biogen Trading Up 3.8 %

BIIB opened at $138.45 on Thursday. The company has a fifty day moving average price of $147.73 and a two-hundred day moving average price of $174.05. Biogen has a 1-year low of $128.51 and a 1-year high of $238.00. The company has a market cap of $20.17 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. 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 (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Analysts predict that Biogen will post 16.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Biogen in the 4th quarter worth approximately $25,000. OFI Invest Asset Management purchased a new position in Biogen in the 4th quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new stake in Biogen during the 3rd quarter valued at $33,000. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of Biogen during the fourth quarter worth $33,000. 87.93% of the stock is owned by hedge funds and other 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.