Biogen (NASDAQ:BIIB) Coverage Initiated at Sanford C. Bernstein

Investment analysts at Sanford C. Bernstein assumed coverage on shares of Biogen (NASDAQ:BIIB) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “market perform” rating and a $160.00 price target on the biotechnology company’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 12.25% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Citigroup reduced 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. Wolfe Research began coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Needham & Company LLC downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research report on Monday, November 18th. Wells Fargo & Company reduced their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, Piper Sandler downgraded shares of Biogen from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $315.00 to $138.00 in a research report on Thursday, January 2nd. Seventeen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $226.15.

Biogen Stock Performance

NASDAQ BIIB opened at $142.54 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a 52-week low of $139.71 and a 52-week high of $244.95. The business’s 50-day moving average price is $149.14 and its 200 day moving average price is $175.44. The firm has a market cap of $20.77 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.65 and a beta of -0.08.

Institutional Trading of Biogen

A number of institutional investors have recently added to or reduced their stakes in BIIB. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Biogen by 521.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,430 shares of the biotechnology company’s stock worth $277,000 after buying an additional 1,200 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Biogen by 4,516.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 1,626 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of Biogen in the 3rd quarter valued at about $100,000. Swedbank AB raised its stake in shares of Biogen by 85.0% in the 3rd quarter. Swedbank AB now owns 185,008 shares of the biotechnology company’s stock valued at $35,862,000 after purchasing an additional 84,981 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Biogen in the 3rd quarter valued at about $227,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.