Biogen Inc. (NASDAQ:BIIB – Get Free Report) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,630,000 shares, an increase of 32.5% from the June 30th total of 2,740,000 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,080,000 shares, the short-interest ratio is currently 3.4 days.
Analyst Upgrades and Downgrades
BIIB has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Biogen in a report on Thursday, May 23rd. Barclays cut their price objective on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. UBS Group cut their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Truist Financial reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Biogen in a report on Thursday, May 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $317.00 price target on shares of Biogen in a report on Wednesday, June 26th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.26.
Check Out Our Latest Analysis on Biogen
Hedge Funds Weigh In On Biogen
Biogen Trading Up 1.5 %
NASDAQ:BIIB traded up $3.26 during trading hours on Monday, reaching $214.43. The company’s stock had a trading volume of 1,538,108 shares, compared to its average volume of 1,134,924. The firm has a market capitalization of $31.22 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.13 and a beta of -0.04. The firm has a 50-day simple moving average of $226.29 and a 200-day simple moving average of $224.08. Biogen has a 1 year low of $189.44 and a 1 year high of $278.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.
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.
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