Biogen (NASDAQ:BIIB) PT Lowered to $195.00

Biogen (NASDAQ:BIIB) had its target price reduced by Wedbush from $249.00 to $195.00 in a research report released on Wednesday morning, The Fly reports. They currently have a neutral rating on the biotechnology company’s stock. Wedbush also issued estimates for Biogen’s Q2 2022 earnings at $4.37 EPS, Q3 2022 earnings at $3.71 EPS, Q4 2022 earnings at $5.07 EPS, FY2022 earnings at $16.69 EPS, FY2023 earnings at $17.14 EPS, FY2024 earnings at $18.41 EPS, FY2025 earnings at $18.21 EPS and FY2026 earnings at $17.80 EPS.

Several other equities analysts have also issued reports on BIIB. BMO Capital Markets started coverage on shares of Biogen in a report on Thursday, November 18th. They set an outperform rating and a $315.00 target price for the company. HC Wainwright restated a buy rating and issued a $453.00 price objective on shares of Biogen in a report on Thursday, October 21st. Truist decreased their price objective on shares of Biogen from $502.00 to $343.00 and set a buy rating for the company in a report on Monday, January 10th. Mizuho decreased their price objective on shares of Biogen from $300.00 to $270.00 and set a neutral rating for the company in a report on Tuesday, October 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Biogen in a research note on Monday, December 6th. They set a neutral rating and a $271.00 target price for the company. Seventeen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $322.99.

NASDAQ BIIB opened at $239.30 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.38. The stock has a market capitalization of $35.15 billion, a PE ratio of 23.41, a PEG ratio of 1.20 and a beta of 0.44. Biogen has a 1 year low of $217.10 and a 1 year high of $468.55. The business’s 50-day moving average is $243.57 and its 200 day moving average is $290.04.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 19th. The biotechnology company reported $4.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.09 by $0.68. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Biogen had a return on equity of 28.36% and a net margin of 13.93%. Biogen’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period last year, the firm earned $8.84 earnings per share. As a group, equities research analysts anticipate that Biogen will post 19.18 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Biogen by 5.2% in the third quarter. BlackRock Inc. now owns 13,896,253 shares of the biotechnology company’s stock valued at $3,932,503,000 after acquiring an additional 689,662 shares in the last quarter. Geode Capital Management LLC boosted its stake in Biogen by 3.5% in the second quarter. Geode Capital Management LLC now owns 2,893,750 shares of the biotechnology company’s stock valued at $1,000,095,000 after acquiring an additional 97,239 shares in the last quarter. Legal & General Group Plc boosted its stake in Biogen by 15.9% in the second quarter. Legal & General Group Plc now owns 1,385,692 shares of the biotechnology company’s stock valued at $479,830,000 after acquiring an additional 189,746 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Biogen by 9.4% in the third quarter. UBS Asset Management Americas Inc. now owns 1,244,986 shares of the biotechnology company’s stock valued at $352,319,000 after acquiring an additional 106,513 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Biogen by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,187,688 shares of the biotechnology company’s stock valued at $411,253,000 after acquiring an additional 75,020 shares in the last quarter. Hedge funds and other institutional investors own 82.61% of the company’s stock.

Biogen Company Profile

Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.

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