Biogen (NASDAQ:BIIB) Price Target Lowered to $139.00 at BMO Capital Markets

Biogen (NASDAQ:BIIB) had its target price dropped by BMO Capital Markets from $156.00 to $139.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the biotechnology company’s stock. BMO Capital Markets’ price target indicates a potential upside of 0.90% from the company’s current price.

Several other analysts have also weighed in on the company. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Oppenheimer cut their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research note on Thursday. Finally, Barclays cut their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $212.70.

Biogen Price Performance

Shares of NASDAQ:BIIB traded up $4.33 during mid-day trading on Thursday, reaching $137.76. The stock had a trading volume of 948,747 shares, compared to its average volume of 1,360,201. The company has a market cap of $20.07 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The business’s 50 day moving average price is $147.73 and its 200 day moving average price is $174.05. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen has a 1 year low of $128.51 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Research analysts expect that Biogen will post 16.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lee Danner & Bass Inc. acquired a new stake in Biogen during the fourth quarter worth about $25,000. Larson Financial Group LLC boosted its position in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Biogen in the 3rd quarter valued at $33,000. SRS Capital Advisors Inc. purchased a new stake in Biogen during the fourth quarter worth $33,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

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.