Biogen (NASDAQ:BIIB) PT Lowered to $350.00

Biogen (NASDAQ:BIIB) had its price target lowered by stock analysts at Credit Suisse Group from $359.00 to $350.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Credit Suisse Group’s price objective suggests a potential upside of 30.50% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Mizuho reissued a “hold” rating and issued a $316.00 target price on shares of Biogen in a research report on Wednesday, July 22nd. Morgan Stanley lifted their price target on shares of Biogen from $355.00 to $357.00 and gave the company an “overweight” rating in a research report on Thursday. Guggenheim reaffirmed a “buy” rating and set a $390.00 price target on shares of Biogen in a research report on Wednesday, July 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $396.00 price target on shares of Biogen in a research report on Tuesday, September 29th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $330.00 price target on shares of Biogen in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. Biogen currently has a consensus rating of “Hold” and a consensus target price of $307.93.

BIIB opened at $268.20 on Thursday. The company’s 50 day simple moving average is $277.82 and its 200 day simple moving average is $288.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.19 and a current ratio of 2.46. Biogen has a 1 year low of $257.60 and a 1 year high of $374.99. The stock has a market capitalization of $42.55 billion, a PE ratio of 7.86, a P/E/G ratio of 1.55 and a beta of 0.54.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 21st. The biotechnology company reported $8.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.06 by $0.78. Biogen had a net margin of 40.91% and a return on equity of 50.10%. The business had revenue of $3.38 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the company earned $9.17 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Biogen will post 34.55 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Smithfield Trust Co. bought a new stake in shares of Biogen in the second quarter worth $35,000. TRUE Private Wealth Advisors increased its stake in Biogen by 35.0% during the third quarter. TRUE Private Wealth Advisors now owns 135 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 35 shares during the last quarter. HWG Holdings LP bought a new stake in Biogen during the second quarter valued at $39,000. CX Institutional increased its stake in Biogen by 113.2% during the third quarter. CX Institutional now owns 145 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. Finally, Balentine LLC increased its stake in Biogen by 169.4% during the second quarter. Balentine LLC now owns 194 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 83.74% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

Recommended Story: What are trading strategies for the 52-week high/low?

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.