Wedbush Raises Biogen (NASDAQ:BIIB) Price Target to $245.00

Biogen (NASDAQ:BIIBFree Report) had its price target increased by Wedbush from $239.00 to $245.00 in a research note published on Monday. The brokerage currently has a neutral rating on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of Biogen from a buy rating to a hold rating in a research note on Wednesday, January 31st. William Blair reaffirmed an outperform rating on shares of Biogen in a research report on Wednesday, January 10th. BTIG Research reissued a neutral rating on shares of Biogen in a report on Sunday, January 7th. Morgan Stanley boosted their price objective on shares of Biogen from $361.00 to $373.00 and gave the stock an overweight rating in a research note on Friday, November 10th. Finally, Oppenheimer reaffirmed an outperform rating and set a $295.00 target price on shares of Biogen in a research report on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $317.52.

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Biogen Trading Up 1.6 %

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

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 110 shares of the company’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 of the company’s stock, valued at approximately $859,072. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of institutional investors and hedge funds have recently modified their holdings of BIIB. Horizon Bancorp Inc. IN lifted 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 purchasing an additional 50 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of Biogen during the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen in the 3rd quarter valued at about $26,000. Gladius Capital Management LP purchased a new stake in shares of Biogen in the third quarter worth about $28,000. Finally, KB Financial Partners LLC raised its position in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

About Biogen

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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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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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