Biogen (NASDAQ:BIIB) Lifted to Buy at StockNews.com

Biogen (NASDAQ:BIIBGet Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other analysts also recently weighed in on BIIB. BTIG Research reaffirmed a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. Raymond James raised Biogen from a “market perform” rating to an “outperform” rating and set a $283.00 price target for the company in a research note on Thursday, December 7th. BMO Capital Markets decreased their price target on Biogen from $314.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 price target on shares of Biogen in a research note on Wednesday, December 20th. Finally, Wedbush increased their price target on Biogen from $239.00 to $245.00 and gave the company a “neutral” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $317.52.

Read Our Latest Analysis on Biogen

Biogen Stock Performance

Biogen stock traded up $3.76 during mid-day trading on Monday, hitting $244.74. 960,746 shares of the company’s stock traded hands, compared to its average volume of 943,930. The firm has a 50 day moving average price of $249.84 and a 200 day moving average price of $252.31. The company has a quick ratio of 1.09, a current ratio of 1.68 and a debt-to-equity ratio of 0.47. The company has a market cap of $35.46 billion and a PE ratio of 24.33. Biogen has a one year low of $220.86 and a one year high of $319.76.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 110 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $248.00, for a total transaction of $27,280.00. Following the completion of the sale, the insider now directly owns 3,464 shares of the company’s stock, valued at approximately $859,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Biogen during the 4th quarter worth $378,728,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Biogen by 49.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after buying an additional 691,843 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Biogen by 24,726.3% during the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after buying an additional 474,992 shares during the period. abrdn plc boosted its holdings in shares of Biogen by 237.4% during the 4th quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock worth $113,102,000 after buying an additional 307,532 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Biogen by 204.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock worth $114,781,000 after buying an additional 300,086 shares during the period. Institutional investors and hedge funds 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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