Biogen (NASDAQ:BIIB – Free Report) had its price objective reduced by Truist Financial from $220.00 to $210.00 in a report issued on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.
BIIB has been the subject of several other reports. Bank Of America (Bofa) decreased their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday. Citigroup decreased their target price on Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Robert W. Baird raised their price target on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Wolfe Research assumed coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $211.96.
Read Our Latest Stock Analysis on Biogen
Biogen Trading Up 3.8 %
Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, analysts anticipate that Biogen will post 16.42 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Inspire Trust Co. N.A. lifted its position in shares of Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares during the period. Centre Asset Management LLC raised its stake in Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after buying an additional 5,270 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.
Biogen Company Profile
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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