Biogen (NASDAQ:BIIB) Given New $245.00 Price Target at Wedbush

Biogen (NASDAQ:BIIBGet Free Report) had its price target raised by equities research analysts at Wedbush from $239.00 to $245.00 in a research report issued on Monday. The firm presently has a “neutral” rating on the biotechnology company’s stock. Wedbush’s target price points to a potential upside of 0.46% from the company’s previous close.

Several other analysts have also weighed in on BIIB. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. Morgan Stanley lifted their price objective on shares of Biogen from $361.00 to $373.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. BMO Capital Markets lowered their price objective on shares of Biogen from $314.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Wednesday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $305.00 price objective on shares of Biogen in a research note on Thursday, October 26th. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $317.52.

Read Our Latest Analysis on Biogen

Biogen Trading Up 1.2 %

Shares of NASDAQ BIIB traded up $2.90 during midday trading on Monday, reaching $243.88. The stock had a trading volume of 543,485 shares, compared to its average volume of 928,091. The firm has a market cap of $35.34 billion and a price-to-earnings ratio of 24.24. Biogen has a twelve month low of $220.86 and a twelve month high of $319.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.68. The company’s 50 day moving average price is $249.60 and its 200 day moving average price is $252.44.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 110 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $248.00, for a total transaction of $27,280.00. Following the sale, the insider now owns 3,464 shares in the company, valued at approximately $859,072. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Biogen

Hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund raised its position in shares of Biogen by 13.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after purchasing an additional 8,291 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Biogen by 76.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 334 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 145 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Biogen by 27.3% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 7,737 shares of the biotechnology company’s stock worth $2,204,000 after purchasing an additional 1,658 shares during the last quarter. TD Asset Management Inc raised its position in shares of Biogen by 30.0% in the 3rd quarter. TD Asset Management Inc now owns 281,028 shares of the biotechnology company’s stock worth $72,227,000 after purchasing an additional 64,844 shares during the last quarter. Finally, Sector Gamma AS raised its position in shares of Biogen by 8.9% in the 3rd quarter. Sector Gamma AS now owns 104,286 shares of the biotechnology company’s stock worth $26,803,000 after purchasing an additional 8,529 shares during the last quarter. Institutional investors own 85.99% of the company’s stock.

Biogen Company Profile

(Get Free Report)

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 offers 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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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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