Biogen (NASDAQ:BIIB) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Biogen (NASDAQ:BIIBFree Report) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $300.00 target price on the biotechnology company’s stock.

A number of other analysts have also recently commented on BIIB. Canaccord Genuity Group cut their target price on Biogen from $310.00 to $305.00 and set a buy rating on the stock in a research report on Tuesday, February 20th. Royal Bank of Canada reaffirmed an outperform rating and issued a $364.00 target price on shares of Biogen in a report on Tuesday, March 5th. William Blair reissued an outperform rating on shares of Biogen in a report on Monday, April 1st. StockNews.com downgraded shares of Biogen from a buy rating to a hold rating in a research report on Tuesday, February 20th. Finally, Oppenheimer reiterated an outperform rating and set a $270.00 target price on shares of Biogen in a research report on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $288.46.

Get Our Latest Stock Report on BIIB

Biogen Stock Performance

NASDAQ:BIIB opened at $217.81 on Thursday. Biogen has a 52 week low of $189.44 and a 52 week high of $319.76. The company has a fifty day simple moving average of $212.88 and a two-hundred day simple moving average of $229.51. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $31.71 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.75 and a beta of -0.01.

Biogen (NASDAQ:BIIBGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business posted $3.40 EPS. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts anticipate that Biogen will post 15.61 earnings per share for the current fiscal year.

Institutional Trading of Biogen

A number of large investors have recently made changes to their positions in BIIB. Cetera Advisors LLC boosted its holdings in shares of Biogen by 120.6% in the 1st quarter. Cetera Advisors LLC now owns 3,175 shares of the biotechnology company’s stock valued at $685,000 after purchasing an additional 1,736 shares during the last quarter. Cetera Investment Advisers grew its position in Biogen by 235.1% in the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after acquiring an additional 10,425 shares in the last quarter. Swedbank AB acquired a new stake in Biogen in the first quarter valued at approximately $22,939,000. Virtu Financial LLC purchased a new stake in shares of Biogen during the first quarter valued at approximately $2,846,000. Finally, Wahed Invest LLC grew its stake in shares of Biogen by 14.0% during the first quarter. Wahed Invest LLC now owns 2,741 shares of the biotechnology company’s stock valued at $591,000 after acquiring an additional 336 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

About Biogen

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.