Truist Financial Issues Pessimistic Forecast for Biogen (NASDAQ:BIIB) Stock Price

Biogen (NASDAQ:BIIB) had its price target decreased by analysts at Truist Financial from $220.00 to $210.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price target points to a potential upside of 57.39% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Mizuho lowered their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. TD Cowen lowered their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Bank of America reaffirmed a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Barclays lowered their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, 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 report on Monday, December 16th. Seventeen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Hold” and a consensus target price of $217.46.

Biogen Stock Down 4.3 %

Biogen stock opened at $133.43 on Thursday. Biogen has a 12 month low of $128.51 and a 12 month high of $238.00. The stock has a fifty day simple moving average of $147.73 and a two-hundred day simple moving average of $174.05. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 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%. Equities analysts predict that Biogen will post 16.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Trust Co. N.A. lifted its position in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares during the last quarter. Centre Asset Management LLC increased its position in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Biogen by 1.4% during 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. lifted its position in 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 purchasing an additional 5,270 shares during the last quarter. 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.