Biogen (NASDAQ:BIIB) Earns “Buy” Rating from Truist Financial

Biogen (NASDAQ:BIIBGet Free Report)‘s stock had its “buy” rating reaffirmed by research analysts at Truist Financial in a research report issued on Monday, Benzinga reports. They presently have a $340.00 price target on the biotechnology company’s stock. Truist Financial’s price target suggests a potential upside of 60.36% from the stock’s current price.

A number of other brokerages have also recently issued reports on BIIB. Robert W. Baird lowered their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Stifel Nicolaus lowered their price objective on Biogen from $315.00 to $287.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 price objective on shares of Biogen in a research note on Tuesday, February 20th. Needham & Company LLC lowered their price objective on Biogen from $305.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Finally, Oppenheimer decreased their price target on Biogen from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $305.68.

Read Our Latest Stock Analysis on Biogen

Biogen Trading Down 2.2 %

NASDAQ BIIB opened at $212.02 on Monday. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. Biogen has a twelve month low of $211.01 and a twelve month high of $319.76. The firm has a market capitalization of $30.82 billion, a PE ratio of 26.57, a P/E/G ratio of 1.82 and a beta of -0.03. The stock’s 50 day moving average is $230.97 and its 200 day moving average is $242.59.

Biogen (NASDAQ:BIIBGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter in the prior year, the firm earned $4.05 earnings per share. Research analysts forecast that Biogen will post 15.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Biogen news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 789 shares of company stock valued at $182,213. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Biogen

Hedge funds have recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG boosted its stake in Biogen by 0.6% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 6,688 shares of the biotechnology company’s stock valued at $1,905,000 after buying an additional 38 shares during the last quarter. Snowden Capital Advisors LLC raised its position in Biogen by 2.5% during the second quarter. Snowden Capital Advisors LLC now owns 1,591 shares of the biotechnology company’s stock valued at $453,000 after purchasing an additional 39 shares during the period. First Manhattan Co. raised its position in Biogen by 33.3% during the fourth quarter. First Manhattan Co. now owns 160 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 40 shares during the period. Systematic Financial Management LP raised its position in Biogen by 2.5% during the first quarter. Systematic Financial Management LP now owns 1,640 shares of the biotechnology company’s stock valued at $456,000 after purchasing an additional 40 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after purchasing an additional 42 shares during the period. Institutional investors own 87.93% of the company’s stock.

About Biogen

(Get Free Report)

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.

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