Biogen Inc. (NASDAQ:BIIB – Get Free Report)’s share price fell 2% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $335.00 to $313.00. Piper Sandler currently has an overweight rating on the stock. Biogen traded as low as $231.52 and last traded at $232.16. 47,909 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 1,124,590 shares. The stock had previously closed at $236.80.
BIIB has been the subject of several other reports. JPMorgan Chase & Co. reduced their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Oppenheimer restated an “outperform” rating and issued a $270.00 price target on shares of Biogen in a research note on Monday, April 29th. HSBC lifted their price objective on Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Biogen in a report on Thursday, May 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 price objective on shares of Biogen in a report on Friday, June 28th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $286.00.
Read Our Latest Report on BIIB
Institutional Trading of Biogen
Biogen Trading Down 2.1 %
The firm has a fifty day simple moving average of $226.25 and a two-hundred day simple moving average of $227.24. The firm has a market capitalization of $33.74 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.34 and a beta of -0.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.
Biogen (NASDAQ:BIIB – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, equities research analysts anticipate that Biogen Inc. will post 15.63 earnings per share for the current fiscal year.
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.
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