Biogen (NASDAQ:BIIB) Price Target Raised to $335.00 at HC Wainwright

Biogen (NASDAQ:BIIB) had its target price upped by HC Wainwright from $300.00 to $335.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. They currently have a buy rating on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. ValuEngine raised shares of Biogen from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Guggenheim raised shares of Biogen from a neutral rating to a buy rating and upped their price target for the stock from $256.00 to $365.00 in a research note on Wednesday. Royal Bank of Canada set a $242.00 price target on shares of Biogen and gave the stock a hold rating in a research note on Friday, September 6th. Canaccord Genuity upped their price target on shares of Biogen from $275.00 to $285.00 and gave the stock a hold rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus upped their price target on shares of Biogen from $236.00 to $296.00 and gave the stock a hold rating in a research note on Tuesday. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $288.33.

Biogen stock traded up $6.86 during midday trading on Wednesday, reaching $285.68. 2,807,500 shares of the stock traded hands, compared to its average volume of 1,927,312. The company has a current ratio of 1.91, a quick ratio of 2.22 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average price of $232.25 and a two-hundred day moving average price of $231.64. The firm has a market cap of $51.99 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.53 and a beta of 1.02. Biogen has a fifty-two week low of $215.77 and a fifty-two week high of $344.00.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.27 by $0.90. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. Biogen’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $7.40 EPS. Analysts anticipate that Biogen will post 32.4 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in BIIB. First National Bank of Omaha raised its holdings in shares of Biogen by 0.3% during the second quarter. First National Bank of Omaha now owns 16,632 shares of the biotechnology company’s stock valued at $3,889,000 after acquiring an additional 45 shares during the period. First Hawaiian Bank raised its holdings in shares of Biogen by 0.7% during the third quarter. First Hawaiian Bank now owns 6,359 shares of the biotechnology company’s stock valued at $1,481,000 after acquiring an additional 46 shares during the period. Fulton Bank N.A. raised its holdings in shares of Biogen by 4.1% during the second quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock valued at $281,000 after acquiring an additional 47 shares during the period. Sigma Investment Counselors Inc. raised its holdings in shares of Biogen by 4.9% during the second quarter. Sigma Investment Counselors Inc. now owns 1,023 shares of the biotechnology company’s stock valued at $239,000 after acquiring an additional 48 shares during the period. Finally, Ballentine Partners LLC raised its holdings in shares of Biogen by 2.4% during the third quarter. Ballentine Partners LLC now owns 2,013 shares of the biotechnology company’s stock valued at $468,000 after acquiring an additional 48 shares during the period. 86.31% 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 worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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