Biogen (NASDAQ:BIIB) PT Raised to $379.00

Biogen (NASDAQ:BIIBFree Report) had its price target boosted by Royal Bank of Canada from $363.00 to $379.00 in a report published on Monday. They currently have an overweight rating on the biotechnology company’s stock.

Several other equities research analysts have also commented on BIIB. Stifel Nicolaus dropped their price objective on shares of Biogen from $315.00 to $287.00 and set a buy rating on the stock in a research note on Thursday, December 14th. BTIG Research reissued a neutral rating on shares of Biogen in a research report on Sunday, January 7th. Wedbush raised their price objective on Biogen from $239.00 to $245.00 and gave the company a neutral rating in a research report on Monday. Needham & Company LLC reiterated a buy rating and set a $305.00 price objective on shares of Biogen in a research note on Thursday, October 26th. Finally, Bank Of America (Bofa) cut their target price on Biogen from $290.00 to $280.00 and set a neutral rating on the stock in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $317.52.

View Our Latest Report on Biogen

Biogen Stock Performance

Shares of Biogen stock opened at $244.74 on Monday. Biogen has a 12 month low of $220.86 and a 12 month high of $319.76. The firm has a market capitalization of $35.46 billion and a P/E ratio of 24.33. The company has a current ratio of 1.68, a quick ratio of 1.09 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $249.84 and a two-hundred day simple moving average of $252.31.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 110 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $248.00, for a total value of $27,280.00. Following the transaction, the insider now directly owns 3,464 shares in the company, valued at approximately $859,072. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of large investors have recently made changes to their positions in BIIB. Horizon Bancorp Inc. IN grew its position in Biogen by 128.2% during the second quarter. Horizon Bancorp Inc. IN now owns 89 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 50 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of Biogen during the 4th quarter worth $25,000. OFI Invest Asset Management bought a new stake in shares of Biogen during the 3rd quarter valued at $26,000. Gladius Capital Management LP purchased a new stake in shares of Biogen in the 3rd quarter worth $29,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. 85.99% of the stock is currently owned by institutional investors.

Biogen Company Profile

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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 offers 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.

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