Robert W. Baird Forecasts Strong Price Appreciation for Biogen (NASDAQ:BIIB) Stock

Biogen (NASDAQ:BIIB) had its price objective upped by Robert W. Baird from $294.00 to $300.00 in a report issued on Friday,Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Barclays lowered their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Citigroup started coverage on shares of Biogen in a research note on Thursday. They set a “neutral” rating and a $190.00 price objective for the company. Twelve analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average price target of $258.96.

Biogen Trading Down 3.0 %

Biogen stock traded down $4.90 during mid-day trading on Friday, hitting $159.99. The company’s stock had a trading volume of 1,917,074 shares, compared to its average volume of 1,169,550. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.57 and a beta of -0.06. The business has a 50 day moving average price of $185.99 and a 200-day moving average price of $207.38. Biogen has a 12 month low of $159.60 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.36 earnings per share. As a group, analysts forecast that Biogen will post 16.4 EPS for the current year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Biogen

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after acquiring an additional 5,270 shares in the last quarter. Arlington Partners LLC grew its position in Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares during the period. Cetera Investment Advisers grew its position in Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after purchasing an additional 10,425 shares during the period. M&G Plc bought a new stake in Biogen in the 1st quarter worth approximately $1,856,000. Finally, National Pension Service grew its position in Biogen by 10.1% in the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after purchasing an additional 32,914 shares during the period. Institutional investors own 87.93% of the company’s stock.

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.