Biogen (NASDAQ:BIIB) Coverage Initiated at Sanford C. Bernstein

Equities research analysts at Sanford C. Bernstein began coverage on shares of Biogen (NASDAQ:BIIB) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set a “market perform” rating and a $160.00 price target on the biotechnology company’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 12.25% from the company’s current price.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a research report on Monday, November 18th. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Finally, Oppenheimer decreased their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Seventeen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus target price of $226.15.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $142.54 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a fifty-two week low of $139.71 and a fifty-two week high of $244.95. The firm has a 50-day simple moving average of $149.14 and a 200 day simple moving average of $175.44. The company has a market cap of $20.77 billion, a PE ratio of 12.88, a P/E/G ratio of 1.65 and a beta of -0.08.

Institutional Investors Weigh In On Biogen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted 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 buying an additional 141 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Biogen in the 3rd quarter worth approximately $33,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the 4th quarter worth $33,000. Venturi Wealth Management LLC increased 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 purchasing an additional 93 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Biogen during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.