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

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

Other equities research analysts have also issued reports about the stock. Mizuho lowered their target price on shares of Biogen from $355.00 to $277.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. Oppenheimer reissued an outperform rating and set a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. HSBC increased their target price on shares of Biogen from $339.00 to $342.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a buy rating and set a $294.00 target price on shares of Biogen in a research note on Wednesday, May 22nd. Finally, Royal Bank of Canada reissued an outperform rating and set a $364.00 target price on shares of Biogen in a research note on Tuesday, March 5th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $288.46.

Biogen Price Performance

Shares of BIIB opened at $217.81 on Thursday. The business’s 50-day moving average is $212.88 and its two-hundred day moving average is $229.49. The company has a market capitalization of $31.71 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.74 and a beta of -0.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $319.76.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $3.40 EPS. Research analysts predict that Biogen will post 15.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC increased its holdings in shares of Biogen by 120.6% during the 1st quarter. Cetera Advisors LLC now owns 3,175 shares of the biotechnology company’s stock worth $685,000 after buying an additional 1,736 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after buying an additional 10,425 shares during the last quarter. Swedbank AB acquired a new stake in shares of Biogen during the 1st quarter worth approximately $22,939,000. Virtu Financial LLC acquired a new stake in shares of Biogen during the 1st quarter worth approximately $2,846,000. Finally, Wahed Invest LLC increased its holdings in shares of Biogen by 14.0% during the 1st quarter. Wahed Invest LLC now owns 2,741 shares of the biotechnology company’s stock worth $591,000 after buying an additional 336 shares during the last quarter. 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.