Biogen (NASDAQ:BIIB) Given New $245.00 Price Target at The Goldman Sachs Group

Biogen (NASDAQ:BIIB) had its price objective decreased by The Goldman Sachs Group from $281.00 to $245.00 in a report issued on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the biotechnology company’s stock.

A number of other research firms also recently commented on BIIB. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Thursday. Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday. Barclays decreased 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. Mizuho cut their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Finally, Morgan Stanley decreased their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus target price of $211.96.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $138.45 on Thursday. Biogen has a 12-month low of $128.51 and a 12-month high of $238.00. The company’s 50 day moving average price is $147.73 and its two-hundred day moving average price is $174.05. The firm has a market cap of $20.17 billion, a PE ratio of 12.51, a PEG ratio of 1.65 and a beta of -0.08. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Equities research analysts predict that Biogen will post 16.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen during the fourth quarter worth $25,000. Larson Financial Group LLC lifted its holdings in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. Ashton Thomas Securities LLC bought a new stake in Biogen during the third quarter valued at $33,000. SRS Capital Advisors Inc. acquired a new stake in Biogen during the 4th quarter worth about $33,000. Finally, Venturi Wealth Management LLC raised its position in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. 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.