HC Wainwright Reiterates “Buy” Rating for Biogen (NASDAQ:BIIB)

HC Wainwright reiterated their buy rating on shares of Biogen (NASDAQ:BIIB) in a research report sent to investors on Thursday, Benzinga reports. HC Wainwright currently has a $300.00 price target on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the stock. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. UBS Group lowered their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Biogen in a research report on Wednesday. BMO Capital Markets decreased their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Wells Fargo & Company decreased their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $262.83.

Biogen Stock Up 1.1 %

BIIB traded up $1.83 during trading on Thursday, hitting $175.83. The stock had a trading volume of 145,548 shares, compared to its average volume of 1,127,962. The company has a market capitalization of $25.61 billion, a PE ratio of 15.72, a PEG ratio of 1.82 and a beta of -0.06. Biogen has a twelve month low of $173.65 and a twelve month high of $268.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.48 and a current ratio of 1.26. The stock has a 50 day simple moving average of $193.34 and a two-hundred day simple moving average of $209.53.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm posted $4.36 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, research analysts predict that Biogen will post 16.17 earnings per share for the current year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Biogen

Several large investors have recently bought and sold shares of the business. KCM Investment Advisors LLC grew its stake in Biogen by 1.7% during the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 49 shares in the last quarter. TFB Advisors LLC grew its stake in Biogen by 2.1% during the 1st quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after acquiring an additional 50 shares in the last quarter. QRG Capital Management Inc. grew its stake in Biogen by 2.0% during the 1st quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 51 shares in the last quarter. Finally, Plato Investment Management Ltd grew its stake in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other 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.